Morocco: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Morocco

The Moroccan non-aqueous paint and varnish market soared to $X in 2022, increasing by 18% 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). Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +87.5% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Morocco

In 2022, overseas shipments of paints and varnishes dispersed or dissolved in a non-aqueous medium were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -17.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 43%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports declined to $X in 2022. The total export value increased at an average annual rate of +5.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 46%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Mali (X tons) was the main destination for non-aqueous paint and varnish exports from Morocco, with a 39% share of total exports. Moreover, non-aqueous paint and varnish exports to Mali exceeded the volume sent to the second major destination, Senegal (X tons), twofold. The third position in this ranking was held by Burkina Faso (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Mali amounted to +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+10.1% per year) and Burkina Faso (+11.2% per year).

In value terms, Mali ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Morocco, comprising 46% of total exports. The second position in the ranking was held by Senegal ($X), with a 15% share of total exports. It was followed by Burkina Faso, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mali stood at +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+8.0% per year) and Burkina Faso (+9.5% per year).

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, dropping by -10.8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 26% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Morocco

Non-aqueous paint and varnish imports into Morocco rose remarkably to X tons in 2022, with an increase of 6.3% compared with the previous year. The total import volume increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 20%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, non-aqueous paint and varnish imports surged to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.7% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

France (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of non-aqueous paint and varnish imports to Morocco, together accounting for 56% of total imports. Italy, Turkey, the United Arab Emirates, Poland, Sweden, Portugal, the Netherlands and the UK lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +60.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Spain ($X) appeared to be the largest non-aqueous paint and varnish suppliers to Morocco, together comprising 63% of total imports. Italy, Turkey, Poland, the UK, the Netherlands, Sweden, the United Arab Emirates and Portugal lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Poland, with a CAGR of +61.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, with an increase of 9% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 13%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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