Morocco: Steel Spring Market 2025

Steel Spring Market Size in Morocco

The Moroccan steel spring market surged to $X in 2021, growing by 32% 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, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 +35.7% against 2019 indices. Steel spring consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Steel Spring Exports

Exports from Morocco

In 2021, overseas shipments of steel springs and leaves for springs were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 205% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, steel spring exports soared to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 72% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons), Italy (X tons) and Nigeria (X tons) were the main destinations of steel spring exports from Morocco, with a combined 84% 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 Nigeria (with a CAGR of +366.7%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and Tunisia ($X) constituted the largest markets for steel spring exported from Morocco worldwide, with a combined 87% share of total exports. These countries were followed by Nigeria, Bangladesh and Turkey, which together accounted for a further 8%.

In terms of the main countries of destination, Nigeria, with a CAGR of +272.4%, saw the highest rates of growth with regard to 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 steel spring export price stood at $X per ton in 2021, picking up by 32% against the previous year. Over the period under review, the export price, however, continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2014 an increase of 114%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Nigeria ($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 Turkey (+53.4%), while the prices for the other major destinations experienced a decline.

Steel Spring Imports

Imports into Morocco

In 2021, purchases abroad of steel springs and leaves for springs was finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 40%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, steel spring imports soared to $X in 2021. In general, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 38% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest steel spring supplier to Morocco, with a 40% share of total imports. Moreover, steel spring imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. France (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.0% per year) and France (+1.0% per year).

In value terms, France ($X), Italy ($X) and Turkey ($X) constituted the largest steel spring suppliers to Morocco, with a combined 52% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +13.5%, recorded the highest growth rate of 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 steel spring import price stood at $X per ton in 2021, waning by -7.6% against the previous year. In general, the import price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2013 when the average import price increased by 46%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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