Morocco: Monocarboxylic Acid Market 2022

Monocarboxylic Acid Market Size in Morocco

In 2021, the Moroccan monocarboxylic acid market decreased by -X% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption recorded a deep reduction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Monocarboxylic Acid Exports

Exports from Morocco

In 2021, shipments abroad of acrylic acid and its salts and other monocarboxylic acid increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, monocarboxylic acid exports reached $X in 2021. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Mauritania (X tons) was the main destination for monocarboxylic acid exports from Morocco, accounting for a X% share of total exports. Moreover, monocarboxylic acid exports to Mauritania exceeded the volume sent to the second major destination, Niger (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Mauritania stood at +X%.

In value terms, Mauritania ($X) and Niger ($X) appeared to be the largest markets for monocarboxylic acid exported from Morocco worldwide.

Niger, 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.

Export Prices by Country

The average monocarboxylic acid export price stood at $X per ton in 2021, remaining stable against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, monocarboxylic acid export price increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Niger ($X per ton), while the average price for exports to Mauritania stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+X%).

Monocarboxylic Acid Imports

Imports into Morocco

In 2021, overseas purchases of acrylic acid and its salts and other monocarboxylic acid decreased by -X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth imports failed to regain momentum.

In value terms, monocarboxylic acid imports shrank markedly to $X in 2021. In general, imports saw a deep setback. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of monocarboxylic acid imports to Morocco, together comprising X% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest monocarboxylic acid suppliers to Morocco were China ($X), Germany ($X) and Spain ($X), with a combined X% share of total imports. The Netherlands, Italy, France and Russia lagged somewhat behind, together comprising a further X terms of the main suppliers, the Netherlands, with a CAGR of +X%, recorded the highest rates of growth with regard to 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 monocarboxylic acid import price stood at $X per ton in 2021, growing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform