Morocco: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Morocco

In 2021, the Moroccan synthetic filament tow market decreased by -11.8% to $X, falling for the third year in a row after two years of growth. Overall, consumption showed a deep reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Synthetic Filament Tow Exports

Exports from Morocco

For the seventh year in a row, Morocco recorded decline in shipments abroad of synthetic filament tow and staple fibers, not carded or combed, which decreased by -5.3% to X tons in 2021. In general, exports faced a sharp curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 237% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic filament tow exports contracted rapidly to $X in 2021. Over the period under review, exports saw a sharp reduction. The most prominent rate of growth was recorded in 2014 with an increase of 281%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X tons), the Netherlands (X tons) and Kenya (X tons) were the main destinations of synthetic filament tow exports from Morocco, together accounting for 94% of total exports. These countries were followed by Senegal, Cote d'Ivoire and Spain, which together accounted for a further 5.4%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Senegal (with a CAGR of +58.6%), while the other leaders experienced a decline.

In value terms, the Netherlands ($X) remains the key foreign market for synthetic filament tow exports from Morocco, comprising 58% of total exports. The second position in the ranking was held by Senegal ($X), with a 16% share of total exports. It was followed by Belgium, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands totaled -18.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (-8.6% per year) and Belgium (-37.5% per year).

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, reducing by -11.1% against the previous year. Overall, the export price saw a slight reduction. The pace of growth appeared the most rapid in 2015 an increase of 49%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Senegal ($X per ton), while the average price for exports to Belgium ($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 Kenya (+0.2%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into Morocco

In 2021, purchases abroad of synthetic filament tow and staple fibers, not carded or combed decreased by -11.1% to X tons, falling for the third consecutive year after two years of growth. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 3.9%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, synthetic filament tow imports shrank to $X in 2021. Overall, imports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 13% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), India (X tons) and the Netherlands (X tons) were the main suppliers of synthetic filament tow imports to Morocco, together comprising 65% of total imports. These countries were followed by Thailand, Italy, Germany, Turkey, China, Vietnam, Nigeria, Malaysia, Portugal and Spain, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Nigeria (with a CAGR of +4,679.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), India ($X) and the Netherlands ($X) appeared to be the largest synthetic filament tow suppliers to Morocco, together comprising 54% of total imports. These countries were followed by Thailand, Germany, Turkey, Portugal, Italy, China, Vietnam, Nigeria, Spain and Malaysia, which together accounted for a further 37%.

Among the main suppliers, Nigeria, with a CAGR of +4,900.1%, 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

In 2021, the average synthetic filament tow import price amounted to $X per ton, flattening at the previous year. In general, the import price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by 12% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Portugal ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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