Morocco: Granite Building Stone Market 2024

Granite Building Stone Market Size in Morocco

The Moroccan granite building stone market surged to $X in 2021, jumping by 38% 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). In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Granite Building Stone Exports

Exports from Morocco

In 2021, shipments abroad of granite building stone was finally on the rise to reach X tons after two years of decline. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 19,389% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, granite building stone exports soared to $X in 2021. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 29,344%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for granite building stone exports from Morocco, with a 70% share of total exports. Moreover, granite building stone exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Senegal (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire amounted to +16,602.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+94.0% per year) and Guinea (-35.3% per year).

In value terms, Cote d'Ivoire ($X) emerged as the key foreign market for granite building stone exports from Morocco, comprising 63% of total exports. The second position in the ranking was taken by Senegal ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire totaled +652.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+72.5% per year) and Guinea (-40.8% per year).

Export Prices by Country

In 2021, the average granite building stone export price amounted to $X per ton, with a decrease of -23.7% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 144% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while the average price for exports to Guinea ($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 Guinea (-8.5%), while the prices for the other major destinations experienced a decline.

Granite Building Stone Imports

Imports into Morocco

Granite building stone imports into Morocco soared to X tons in 2021, growing by 27% on the year before. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, granite building stone imports soared to $X in 2021. In general, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest granite building stone supplier to Morocco, with a 58% share of total imports. Moreover, granite building stone imports from Spain exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+35.5% per year) and Italy (+3.1% per year).

In value terms, the largest granite building stone suppliers to Morocco were Spain ($X), India ($X) and Italy ($X), together accounting for 93% of total imports.

In terms of the main suppliers, India, with a CAGR of +32.2%, saw 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

The average granite building stone import price stood at $X per ton in 2021, growing by 11% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :