In this report we consider 5 countries across North Africa: Morocco, Algeria, Tunisia, Libya, Egypt.
In 2016, the North African industrial gases business generated revenues of $330m, which is up from $150m in 2006, indicating an average annual growth rate of just over 8%. Egypt is by far the largest gases market in the region, generating revenues of around $125m, or 38% of the regional business.
Whilst political unrest during during 2011 has affected economic growth adversely across most of North Africa, there has been a solid rebound in 2012 - aided by the large hydrocarbon economies of Libya and Algeria, as well as somewhat calmer political climates in Tunisia and Egypt (though recent events continue to pose question marks around the latter). Morocco’s economy has faltered somewhat as a result of the economic crisis in Europe (with which it has closer links than with the rest of Europe) but, even so, continues to post positive growth figures.
We do anticipate reasonably healthy levels of growth going forward into the 2017-2021 timeframe, stretching from 3.0% p.a. in a low scenario to 8.5% p.a. in a high scenario. This should see the industry achieve revenues of between $385 million to over $500 million by 2021 in the region.
Report Data: 2017