A recent study by the Exchange Office has revealed that Morocco has the potential to increase its exports of building materials by six times, reaching a value of $3 billion per year or 30 billion dirhams. The study has suggested that Morocco can convert a considerable proportion of its imports of building materials into local production, which currently costs the country 21 billion dirhams.
The global market for building materials is estimated to be worth $600 billion annually, and by 2026, Morocco could potentially secure a market share of 0.5 percent, allowing for a significant increase in exports. However, other competing countries such as Portugal, Turkey, France, Spain, and Egypt have already surpassed this level of exports, with some countries exporting over three times the amount that Morocco currently exports.
To achieve its ambitious goals and compete with other countries, the national industry needs to transform its industrial processes to be less energy-intensive and produce products of high technological value. The Exchange Office has recommended developing partnerships between the public and private sectors in the building materials industry to create national players that are capable of conquering export markets, particularly in sub-Saharan Africa. Additionally, supporting the attractiveness of the industry with regard to foreign investment is also necessary.
Over the past decade, imports of building materials in Morocco have grown at an annual rate of approximately 4.6 percent, moving from 12.8 billion dirhams to 21.1 billion dirhams. During this period, imports of building materials represented 4.2 percent of total imports.
The study has highlighted that Morocco has the potential to double its exports of building materials six times, creating a significant impact on the national economy. However, to achieve this, the industry needs to focus on transforming its industrial processes, producing products of high technological value, and developing partnerships between the public and private sectors to conquer export markets.
Afaf Al Fahchouch