Morocco: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Morocco

For the eighth consecutive year, the Moroccan natural bitumen and asphalt market recorded growth in sales value, which increased by 4.1% to $X in 2021. Over the period under review, consumption enjoyed a resilient expansion. Natural bitumen and asphalt consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Production of Natural Bitumen and Asphalt in Morocco

In value terms, natural bitumen and asphalt production totaled $X in 2021 estimated in export price. Over the period under review, production posted a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 30% against the previous year. Over the period under review, production attained the maximum level in 2021 and is expected to retain growth in years to come.

Exports of Natural Bitumen and Asphalt

Exports from Morocco

In 2021, approx. X tons of natural bitumen and asphalt were exported from Morocco; declining by -5.8% against 2020. Overall, exports faced a abrupt decline. The smallest decline of -4.9% was in 2014. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, natural bitumen and asphalt exports dropped to $X in 2021. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 6.9% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons) was the main destination for natural bitumen and asphalt exports from Morocco, with a 76% share of total exports. Moreover, natural bitumen and asphalt exports to Burkina Faso exceeded the volume sent to the second major destination, Congo (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Burkina Faso totaled +41.2%.

In value terms, Burkina Faso ($X) emerged as the key foreign market for natural bitumen and asphalt exports from Morocco, comprising 91% of total exports. The second position in the ranking was taken by Congo ($X), with a 7.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Burkina Faso amounted to +39.9%.

Export Prices by Country

The average natural bitumen and asphalt export price stood at $X per ton in 2021, increasing by 2.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2014 when the average export price increased by 12%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Congo amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (-0.9%).

Imports of Natural Bitumen and Asphalt

Imports into Morocco

In 2021, supplies from abroad of natural bitumen and asphalt decreased by -3.6% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 830% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, natural bitumen and asphalt imports totaled $X in 2021. Overall, imports, however, saw significant growth. The pace of growth was the most pronounced in 2018 with an increase of 653%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Albania (X tons) constituted the largest natural bitumen and asphalt supplier to Morocco, with a 51% share of total imports. Moreover, natural bitumen and asphalt imports from Albania exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. The third position in this ranking was taken by France (X tons), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Albania stood at +68.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+5.0% per year) and France (+70.8% per year).

In value terms, Albania ($X), France ($X) and Egypt ($X) were the largest natural bitumen and asphalt suppliers to Morocco, with a combined 85% share of total imports.

France, with a CAGR of +72.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average natural bitumen and asphalt import price amounted to $X per ton, surging by 6.5% against the previous year. In general, the import price, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by 59%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+13.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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