Morocco: Resinoids Market 2022

Resinoids Market Size in Morocco

The Moroccan resinoids market was finally on the rise to reach $X in 2021, after two years of decline. In general, the total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.1% against 2017 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Resinoids Production in Morocco

In value terms, resinoids production surged to $X in 2021 estimated in export price. In general, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.8% against 2017 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 47% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Resinoids Exports

Exports from Morocco

In 2021, shipments abroad of resinoids decreased by -30.7% to X tons, falling for the third consecutive year after two years of growth. In general, exports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 85% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, resinoids exports fell significantly to $X in 2021. Over the period under review, exports, however, showed a perceptible expansion. The growth pace was the most rapid in 2014 with an increase of 95% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for resinoids exports from Morocco, accounting for a 74% share of total exports. Moreover, resinoids exports to France exceeded the volume sent to the second major destination, the UK (X kg), more than tenfold. Canada (X kg) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-6.6% per year) and Canada (-24.2% per year).

In value terms, France ($X) remains the key foreign market for resinoids exports from Morocco, comprising 61% of total exports. The second position in the ranking was taken by Germany ($X), with a 17% share of total exports. It was followed by Japan, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to France stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.5% per year) and Japan (+9.7% per year).

Export Prices by Country

In 2021, the average resinoids export price amounted to $X per ton, reducing by -23.2% against the previous year. In general, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 51%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then shrank dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Saudi Arabia ($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 the UK (+32.5%), while the prices for the other major destinations experienced more modest paces of growth.

Resinoids Imports

Imports into Morocco

In 2021, resinoids imports into Morocco skyrocketed to X tons, growing by 421% against the year before. Over the period under review, imports saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, resinoids imports soared to $X in 2021. Overall, imports enjoyed a noticeable expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons) was the main resinoids supplier to Morocco, accounting for a 91% share of total imports. Moreover, resinoids imports from Poland exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), more than tenfold. France (X kg) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland amounted to +40.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+1.7% per year) and France (-12.5% per year).

In value terms, Poland ($X) constituted the largest supplier of resinoids to Morocco, comprising 67% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Saudi Arabia, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from Poland stood at +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+184.8% per year) and Saudi Arabia (+6.7% per year).

Import Prices by Country

In 2021, the average resinoids import price amounted to $X per ton, shrinking by -30.4% against the previous year. Over the period under review, the import price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2020 an increase of 109%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Poland ($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 (+14.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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