Updated Nov 26, 2022 17:07

Sulphur Market in Morocco

Market Overview
In , the Moroccan sulphur market decreased by -% to $ for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a pronounced increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. Sulphur consumption peaked at $ in , and then contracted slightly in the following year.

In value terms, sulphur production surged to $ in estimated in export price. Over the period under review, production saw a strong increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.


Consumption
In , approx. tons of sulphur were consumed in Morocco; rising by % on the year before. Over the period under review, consumption showed a temperate increase. Sulphur consumption peaked at tons in ; however, from to , consumption stood at a somewhat lower figure.

The revenue of the sulphur market in Morocco amounted to $ in , rising by % 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 tangible growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. Sulphur consumption peaked in and is likely to see gradual growth in years to come.


Market Forecast
Driven by increasing demand for sulphur in Morocco, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Sulphur market in Morocco consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Morocco remains a net importer of sulphur; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.