Morocco: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in Morocco

In 2022, the Moroccan synthetic yarn market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Synthetic Yarn Exports

Exports from Morocco

In 2022, the amount of yarn of synthetic or artificial staple fibers exported from Morocco surged to X tons, picking up by X% on the previous year. Overall, exports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, synthetic yarn exports skyrocketed to $X in 2022. In general, exports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons), Burkina Faso (X tons) and Guinea (X tons) were the main destinations of synthetic yarn exports from Morocco, with a combined X% share of total exports.

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

In value terms, the largest markets for synthetic yarn exported from Morocco were Belgium ($X), Burkina Faso ($X) and Guinea ($X), with a combined X% share of total exports.

Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic yarn export price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the 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 Belgium ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

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

Synthetic Yarn Imports

Imports into Morocco

In 2022, synthetic yarn imports into Morocco skyrocketed to X tons, with an increase of X% on the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, synthetic yarn imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, India (X tons) constituted the largest synthetic yarn supplier to Morocco, accounting for a X% share of total imports. Moreover, synthetic yarn imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by Indonesia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Indonesia (X% per year).

In value terms, India ($X) constituted the largest supplier of yarn of synthetic or artificial staple fibers to Morocco, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and China (X% per year).

Import Prices by Country

The average synthetic yarn import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, saw a slight decline. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, 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 Turkey ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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