Morocco: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Morocco

In 2021, the Moroccan aqueous paint and varnish market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption posted a prominent expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Morocco

In 2021, shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 33% to X tons, rising for the second consecutive year after three years of decline. Overall, exports saw prominent growth. The growth pace was the most rapid in 2014 when exports increased by 60% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, aqueous paint and varnish exports surged to $X in 2021. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 85%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Senegal (X tons), Mali (X tons) and Congo (X tons) were the main destinations of aqueous paint and varnish exports from Morocco, together accounting for 64% of total exports. These countries were followed by Cote d'Ivoire, Gabon, Cameroon, France, Algeria, Germany, Mauritania, Qatar and Nigeria, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +248.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Mali ($X) and Congo ($X) constituted the largest markets for aqueous paint and varnish exported from Morocco worldwide, with a combined 65% share of total exports. Cote d'Ivoire, Cameroon, Germany, Algeria, Gabon, Qatar, Mauritania, Nigeria and France lagged somewhat behind, together comprising a further 26%.

Germany, with a CAGR of +130.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, with an increase of 7.6% against the previous year. Overall, the export price, however, recorded a pronounced downturn. The pace of growth appeared the most rapid in 2020 an increase of 24% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to France ($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 (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Morocco

After two years of decline, purchases abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 18% to X tons in 2021. In general, imports recorded resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 70%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish imports surged to $X in 2021. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 45%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), France (X tons) and the UK (X tons) were the main suppliers of aqueous paint and varnish imports to Morocco, together accounting for 58% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +53.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Morocco, comprising 42% of total imports. The second position in the ranking was taken by Spain ($X), with a 15% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +51.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+10.1% per year) and France (+1.9% per year).

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, rising by 4.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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