Morocco: Pig Iron Articles Market 2023

Pig Iron Articles Market Size in Morocco

In 2021, the Moroccan pig iron articles market decreased by -9% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption continues to indicate a deep downturn. Pig iron articles consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Pig Iron Articles Exports

Exports from Morocco

In 2021, overseas shipments of granules and powders of pig iron increased by 31% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a sharp contraction. The pace of growth was the most pronounced in 2017 when exports increased by 4,683% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, pig iron articles exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 when exports increased by 1,279% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal (X tons), France (X tons) and Portugal (X kg) were the main destinations of pig iron articles exports from Morocco.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +16.1%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the key foreign market for granules and powders of pig iron exports from Morocco, comprising 72% of total exports. The second position in the ranking was taken by France ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Senegal stood at +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-8.2% per year) and Portugal (0.0% per year).

Export Prices by Country

The average pig iron articles export price stood at $X per ton in 2021, reducing by -7.8% against the previous year. Overall, the export price, however, saw a strong expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 2,066% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 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 ($X per ton), while the average price for exports to Portugal ($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 Senegal (+25.4%), while the prices for the other major destinations experienced mixed trend patterns.

Pig Iron Articles Imports

Imports into Morocco

In 2021, approx. X tons of granules and powders of pig iron were imported into Morocco; with a decrease of -22.4% on the previous year. Overall, imports faced a abrupt descent. The pace of growth was the most pronounced in 2015 when imports increased by 28%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, pig iron articles imports contracted slightly to $X in 2021. Over the period under review, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 36%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of pig iron articles to Morocco, accounting for a 29% share of total imports. Moreover, pig iron articles imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. China (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.5% per year) and China (-20.4% per year).

In value terms, the largest pig iron articles suppliers to Morocco were France ($X), China ($X) and Italy ($X), together accounting for 51% of total imports. Germany, Spain, India, the UK and Egypt lagged somewhat behind, together accounting for a further 25%.

Among the main suppliers, India, with a CAGR of +30.5%, recorded 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

In 2021, the average pig iron articles import price amounted to $X per ton, jumping by 27% against the previous year. In general, the import price recorded a perceptible expansion. The pace of growth was the most pronounced in 2017 an increase of 61%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the UK ($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 (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :