Morocco: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Morocco

In 2022, the Moroccan pressure-reducing iron valve market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Pressure-Reducing Iron Valve Exports

Exports from Morocco

In 2022, pressure-reducing iron valve exports from Morocco dropped significantly to X units, falling by -68.8% compared with the previous year. Over the period under review, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 537% against the previous year. As a result, the exports attained the peak of X units, and then shrank remarkably in the following year.

In value terms, pressure-reducing iron valve exports shrank dramatically to $X in 2022. Overall, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 388% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted dramatically in the following year.

Exports by Country

Mauritania (X units) was the main destination for pressure-reducing iron valve exports from Morocco, with a 92% share of total exports. It was followed by Guinea (X units), with a 2.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mauritania stood at +22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (+20.7% per year) and Burkina Faso (+3.8% per year).

In value terms, Mauritania ($X) emerged as the key foreign market for pressure-reducing, control, check and safety valves exports from Morocco, comprising 75% of total exports. The second position in the ranking was held by Guinea ($X), with a 3.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Mauritania stood at +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (+22.6% per year) and Burkina Faso (-15.7% per year).

Export Prices by Country

In 2022, the average pressure-reducing iron valve export price amounted to $X per unit, picking up by 40% against the previous year. In general, the export price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 63% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guinea ($X per unit), while the average price for exports to Mauritania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guinea (+1.6%), while the prices for the other major destinations experienced a decline.

Pressure-Reducing Iron Valve Imports

Imports into Morocco

In 2022, supplies from abroad of pressure-reducing, control, check and safety valves was finally on the rise to reach X units after two years of decline. In general, imports, however, continue to indicate a slight descent. The most prominent rate of growth was recorded in 2019 with an increase of 73%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, pressure-reducing iron valve imports soared to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 40% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X units), China (X units) and Turkey (X units) were the main suppliers of pressure-reducing iron valve imports to Morocco, together comprising 91% of total imports.

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 +12.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of pressure-reducing, control, check and safety valves to Morocco, comprising 36% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by France, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.3% per year) and France (-0.0% per year).

Import Prices by Country

In 2022, the average pressure-reducing iron valve import price amounted to $X per unit, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2013 an increase of 32% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform