Morocco: Safety Valve Market 2024

Safety Valve Market Size in Morocco

The Moroccan safety valve market skyrocketed to $X in 2021, growing by 31% 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). Overall, consumption continues to indicate a buoyant expansion. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Safety Valve Exports

Exports from Morocco

Safety valve exports from Morocco reduced notably to X units in 2021, shrinking by -36.9% on the previous year's figure. Over the period under review, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 549%. Over the period under review, the exports reached the maximum at X units in 2020, and then declined remarkably in the following year.

In value terms, safety valve exports fell sharply to $X in 2021. Overall, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 314%. Over the period under review, the exports attained the maximum at $X in 2020, and then contracted dramatically in the following year.

Exports by Country

Cote d'Ivoire (X units), the United Arab Emirates (X units) and Mauritania (X units) were the main destinations of safety valve exports from Morocco, together accounting for 76% of total exports. These countries were followed by Liberia, Poland, Tunisia, Guinea, Cameroon and France, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Cameroon (with a CAGR of +104.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) emerged as the key foreign market for safety or relief valves for pipes, boiler shells, tanks and vats exports from Morocco, comprising 49% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total exports. It was followed by Liberia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire stood at +76.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+42.4% per year) and Liberia (0.0% per year).

Export Prices by Country

The average safety valve export price stood at $X per unit in 2021, increasing by 4.8% against the previous year. Over the period under review, the export price saw a strong increase. The pace of growth was the most pronounced in 2014 when the average export price increased by 108%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Liberia ($X per unit), while the average price for exports to Mauritania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (+50.7%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Valve Imports

Imports into Morocco

In 2021, the amount of safety or relief valves for pipes, boiler shells, tanks and vats imported into Morocco soared to X units, increasing by 62% on the previous year. Overall, imports showed a resilient expansion. The pace of growth was the most pronounced in 2016 when imports increased by 152% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, safety valve imports rose remarkably to $X in 2021. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 138%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of safety valve to Morocco, accounting for a 54% share of total imports. Moreover, safety valve imports from China exceeded the figures recorded by the second-largest supplier, France (X units), sixfold. The third position in this ranking was held by Italy (X units), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +34.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+7.7% per year) and Italy (+11.5% per year).

In value terms, China ($X), Germany ($X) and Italy ($X) were the largest safety valve suppliers to Morocco, with a combined 49% share of total imports. France, Spain, the Czech Republic and Turkey lagged somewhat behind, together comprising a further 36%.

Among the main suppliers, the Czech Republic, with a CAGR of +40.7%, 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 2021, the average safety valve import price amounted to $X per unit, waning by -30.8% against the previous year. Overall, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 20%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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