Morocco: Paint And Varnish Market 2024

Paint And Varnish Market Size in Morocco

In 2022, the Moroccan paint and varnish market increased by 24% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +60.2% against 2020 indices. Paint and varnish consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Paint And Varnish Exports

Exports from Morocco

In 2022, approx. X tons of paints and varnishes were exported from Morocco; surging by 2.2% on the previous year's figure. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 28%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, paint and varnish exports fell to $X in 2022. In general, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.2% against 2018 indices. The growth pace was the most rapid in 2013 when exports increased by 39%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Mali (X tons), Senegal (X tons) and Congo (X tons) were the main destinations of paint and varnish exports from Morocco, with a combined 62% share of total exports. Burkina Faso, France, Mauritania, Cote d'Ivoire and Algeria lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +39.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paint and varnish exported from Morocco were Mali ($X), Senegal ($X) and Congo ($X), together comprising 67% of total exports. Burkina Faso, Mauritania, Algeria, France and Cote d'Ivoire lagged somewhat behind, together comprising a further 24%.

Cote d'Ivoire, with a CAGR of +20.2%, recorded the highest growth rate of 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

The average paint and varnish export price stood at $X per ton in 2022, which is down by -12.4% against the previous year. Over the period under review, the export price saw a mild contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to France ($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 Mauritania (+6.1%), while the prices for the other major destinations experienced a decline.

Paint And Varnish Imports

Imports into Morocco

In 2022, approx. X tons of paints and varnishes were imported into Morocco; increasing by 15% against the previous year. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.4% 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 +31.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 19% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, paint and varnish imports skyrocketed to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +47.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Spain (X tons), France (X tons) and Germany (X tons) were the main suppliers of paint and varnish imports to Morocco, together accounting for 65% of total imports. Italy, the United Arab Emirates, the UK, Turkey, the Netherlands and Portugal lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +47.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest paint and varnish suppliers to Morocco were France ($X), Germany ($X) and Spain ($X), with a combined 69% share of total imports. Italy, the UK, Turkey, the Netherlands, the United Arab Emirates and Portugal lagged somewhat behind, together accounting for a further 20%.

In terms of the main suppliers, Turkey, with a CAGR of +45.9%, saw the highest rates of growth with regard to 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 paint and varnish import price amounted to $X per ton, surging by 1.6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 12%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

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 (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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