Morocco: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Morocco

In 2021, the Moroccan glass fibre filament market increased by 100% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption continues to indicate a buoyant expansion. Glass fibre filament consumption peaked in 2021 and is expected to retain growth in years to come.

Glass Fibre Filament Exports

Exports from Morocco

In 2021, approx. X tons of glass fibre filaments were exported from Morocco; growing by 1,048% compared with the previous year. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 22,345% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, glass fibre filament exports soared to $X in 2021. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 1,163%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Spain (X tons) was the main destination for glass fibre filament exports from Morocco, accounting for a 37% share of total exports. Moreover, glass fibre filament exports to Spain exceeded the volume sent to the second major destination, Brazil (X tons), twofold.

From 2013 to 2021, the average annual growth rate of volume to Spain amounted to -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+134.8% per year) and India (-50.2% per year).

In value terms, Spain ($X) emerged as the key foreign market for glass fibre filaments exports from Morocco, comprising 41% of total exports. The second position in the ranking was held by Brazil ($X), with a 10% share of total exports.

From 2013 to 2021, the average annual growth rate of value to Spain amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-24.1% per year) and India (-60.5% per year).

Export Prices by Country

The average glass fibre filament export price stood at $X per ton in 2021, falling by -41.6% against the previous year. In general, the export price recorded a precipitous contraction. The growth pace was the most rapid in 2020 an increase of 69%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+4.6%), while the prices for the other major destinations experienced a decline.

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Glass Fibre Filament Imports

Imports into Morocco

In 2021, overseas purchases of glass fibre filaments increased by 83% to X tons, rising for the fourth year in a row after three years of decline. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2020 with an increase of 229%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, glass fibre filament imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 205% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glass fibre filament to Morocco, accounting for a 81% share of total imports. Moreover, glass fibre filament imports from China exceeded the figures recorded by the second-largest supplier, Egypt (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-1.7% per year) and India (+75.8% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre filaments to Morocco, comprising 76% of total imports. The second position in the ranking was taken by Egypt ($X), with a 7% share of total imports. It was followed by India, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-1.6% per year) and India (+58.6% per year).

Import Prices by Country

In 2021, the average glass fibre filament import price amounted to $X per ton, growing by 16% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from India ($X per ton) and Egypt ($X per ton), while the price for Bahrain ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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