Morocco: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Morocco

The Moroccan market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021, with an increase of 32% against the previous year. Overall, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Morocco

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 102%. Over the period under review, production of attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports from Morocco

In 2021, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Morocco skyrocketed to X tons, rising by 83% compared with the previous year's figure. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 237%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 555% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons), Romania (X tons) and Italy (X tons) were the main destinations of exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Morocco, with a combined 72% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +311.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Romania ($X) were the largest markets for glass fibre filament, roving, and staple glass fibre article exported from Morocco worldwide, together comprising 73% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +363.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, picking up by 8.1% against the previous year. In general, the export price continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 an increase of 250%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Brazil ($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 France (+27.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports into Morocco

In 2021, purchases abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 79% to X tons, rising for the fourth consecutive year after three years of decline. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 162% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest glass fibre filament, roving, and staple glass fibre article supplier to Morocco, with a 80% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from China exceeded the figures recorded by the second-largest supplier, Egypt (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-1.6% per year) and India (+76.5% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Morocco, comprising 62% of total imports. The second position in the ranking was taken by France ($X), with a 16% share of total imports. It was followed by Egypt, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+7.1% per year) and Egypt (-1.3% per year).

Import Prices by Country

The average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, shrinking by -3.6% against the previous year. Overall, the import price continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2016 when the average import price increased by 67%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a 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 France ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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