Morocco: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Morocco

The Moroccan plastic furniture fittings market soared to $X in 2021, rising by 133% 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, consumption continues to indicate a noticeable expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Plastic Furniture Fittings Exports

Exports from Morocco

For the third consecutive year, Morocco recorded growth in overseas shipments of plastic fittings for furniture, which increased by 41% to X tons in 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 674% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, plastic furniture fittings exports soared to $X in 2021. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 930% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

Spain (X tons) was the main destination for plastic furniture fittings exports from Morocco, accounting for a 88% share of total exports. Moreover, plastic furniture fittings exports to Spain exceeded the volume sent to the second major destination, France (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Spain amounted to +82.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+15.4% per year) and Portugal (+38.8% per year).

In value terms, Spain ($X) remains the key foreign market for plastic fittings for furniture exports from Morocco, comprising 87% of total exports. The second position in the ranking was held by France ($X), with a 7.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain totaled +101.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+11.2% per year) and Portugal (+49.2% per year).

Export Prices by Country

The average plastic furniture fittings export price stood at $X per ton in 2021, declining by -1.7% against the previous year. In general, the export price saw a mild contraction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 33% 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.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Portugal ($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 Spain (+10.6%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Furniture Fittings Imports

Imports into Morocco

In 2021, supplies from abroad of plastic fittings for furniture increased by 83% to X tons, rising for the sixth year in a row after three years of decline. In general, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture fittings imports soared to $X in 2021. Over the period under review, imports saw a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of plastic furniture fittings to Morocco, with a 68% share of total imports. Moreover, plastic furniture fittings imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. France (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +40.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.1% per year) and France (+3.5% per year).

In value terms, Spain ($X) constituted the largest supplier of plastic fittings for furniture to Morocco, comprising 51% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports. It was followed by China, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +34.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+4.2% per year) and China (+10.5% per year).

Import Prices by Country

In 2021, the average plastic furniture fittings import price amounted to $X per ton, with a decrease of -2% against the previous year. Overall, the import price recorded a perceptible setback. The pace of growth was the most pronounced in 2018 when the average import price increased by 22%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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 Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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