Morocco Webbing Market Shipment Analysis
Morocco Webbing Market registered a growth of 3.6% in value shipments in 2022 as compared to 2021 and a decrease of -5.45% CAGR in 2022 over a period of 2017. In Webbing Market Morocco is becoming more competitive as the HHI index in 2022 was 1386 while in 2017 it was 2475. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Morocco has reportedly relied more on imports to meet its growing demand in Webbing Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Webbing Market in 2022 was 2.52 while in 2017 it was 13.3. Spain, China, Other Asia, nes, Germany and France were among the top players of the market in 2022, where Spain acquired the largest market share of 20.51% with a shipment value of 3.79 million USD in 2022 Spain also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Webbing Market. In 2017 Spain had the largest market share of 42.03% with the shipment value of 10.48 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Spain offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Morocco Webbing Market in 2017.
