Morocco: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Morocco

The Moroccan market for lauric acid and other acids, their salts and esters surged to $X in 2021, rising by 32% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Morocco

For the third consecutive year, Morocco recorded decline in overseas shipments of lauric acid and other acids, their salts and esters, which decreased by -20.8% to X tons in 2021. In general, exports, however, saw slight growth. The growth pace was the most rapid in 2015 when exports increased by 368%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of lauric acid and other acids, their salts and esters fell rapidly to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 635%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Senegal (X tons) was the main destination for exports of lauric acid and other acids, their salts and esters from Morocco, accounting for a 90% share of total exports. Moreover, exports of lauric acid and other acids, their salts and esters to Senegal exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold. Cote d'Ivoire (X kg) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Senegal totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Cote d'Ivoire (+3.1% per year).

In value terms, Senegal ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Morocco, comprising 56% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 20% share of total exports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Senegal totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+14.2% per year) and Germany (+43.0% per year).

Export Prices by Country

In 2021, the average export price for lauric acid and other acids, their salts and esters amounted to $X per ton, dropping by -32.6% against the previous year. Over the period under review, the export price continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by 70% against the previous year. The export price peaked at $X per ton in 2020, and then fell notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+44.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Morocco

In 2021, supplies from abroad of lauric acid and other acids, their salts and esters increased by 23% to X tons, rising for the third consecutive year after two years of decline. Overall, total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.2% against 2018 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 24%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, imports of lauric acid and other acids, their salts and esters surged to $X in 2021. The total import value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Spain (X tons) and Malaysia (X tons) were the main suppliers of imports of lauric acid and other acids, their salts and esters to Morocco, together comprising 52% of total imports. The United States lagged somewhat behind, accounting for a further 0.9%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +16.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) constituted the largest supplier of lauric acid and other acids, their salts and esters to Morocco, comprising 38% of total imports. The second position in the ranking was taken by the United States ($X), with a 5.9% share of total imports. It was followed by Spain, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands amounted to -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+36.3% per year) and Spain (-8.3% per year).

Import Prices by Country

The average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, picking up by 9% against the previous year. Over the period under review, the import price, however, saw a mild reduction. The growth pace was the most rapid in 2018 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+16.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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