Morocco: Polystyrene Market 2024

Polystyrene Market Size in Morocco

In 2022, the Moroccan polystyrene market increased by 26% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the near future.

Polystyrene Exports

Exports from Morocco

Polystyrene exports from Morocco surged to X tons in 2022, jumping by 210% compared with the previous year. Over the period under review, exports saw a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 642%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, polystyrene exports soared to $X in 2022. In general, exports saw a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 800%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons), Algeria (X tons) and France (X tons) were the main destinations of polystyrene exports from Morocco, together accounting for 86% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +72.0%), while the other leaders experienced more modest paces of growth.

In value terms, Algeria ($X) remains the key foreign market for polystyrene exports from Morocco, comprising 54% of total exports. The second position in the ranking was taken by Italy ($X), with a 23% share of total exports. It was followed by France, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to Algeria amounted to +50.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and France (+67.3% per year).

Export Prices by Country

The average polystyrene export price stood at $X per ton in 2022, reducing by -27.7% against the previous year. In general, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Mauritania ($X per ton), while the average price for exports to Italy ($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 Algeria (+21.6%), while the prices for the other major destinations experienced mixed trend patterns.

Polystyrene Imports

Imports into Morocco

In 2022, approx. X tons of polystyrene were imported into Morocco; surging by 11% compared with 2021. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 18% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, polystyrene imports skyrocketed to $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +98.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 49% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Belgium (X tons), France (X tons) and China (X tons) were the main suppliers of polystyrene imports to Morocco, together comprising 67% of total imports. Turkey, Spain, Italy, Taiwan (Chinese) and the Netherlands lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +36.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene suppliers to Morocco were Belgium ($X), France ($X) and China ($X), with a combined 68% share of total imports.

In terms of the main suppliers, China, with a CAGR of +37.6%, 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

The average polystyrene import price stood at $X per ton in 2022, rising by 20% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polystyrene import price increased by +78.7% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 49% against the previous year. Over the period under review, average import prices attained the peak figure 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 the Netherlands ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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