Morocco: Tyre Market 2024

Tyre Market Size in Morocco

The Moroccan tyre market declined to $X in 2022, falling by X% 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 remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Tyre Exports

Exports from Morocco

In 2022, overseas shipments of tyres were finally on the rise to reach X units after two years of decline. Overall, exports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tyre exports soared to $X in 2022. Over the period under review, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mauritania (X units) was the main destination for tyre exports from Morocco, with a X% share of total exports. Moreover, tyre exports to Mauritania exceeded the volume sent to the second major destination, Cabo Verde (X units), fivefold. South Africa (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Mauritania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (X% per year) and South Africa (X% per year).

In value terms, Mauritania ($X) emerged as the key foreign market for tyres exports from Morocco, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Guinea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mauritania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (X% per year) and Guinea (X% per year).

Export Prices by Country

In 2022, the average tyre export price amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cabo Verde (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Imports

Imports into Morocco

In 2022, the amount of tyres imported into Morocco declined to X units, dropping by X% compared with the previous year's figure. Overall, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then contracted in the following year.

In value terms, tyre imports fell to $X in 2022. Over the period under review, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

China (X units), Turkey (X units) and Portugal (X units) were the main suppliers of tyre imports to Morocco, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and Spain ($X) appeared to be the largest tyre suppliers to Morocco, together comprising X% of total imports.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tyre import price amounted to $X per unit, remaining constant against the previous year. Over the period under review, the import price saw a pronounced downturn. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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