$Panama - Synthetic Latex Rubber - Market Analysis, Forecast, Size, Trends And Insights$

Report Update: May 3, 2024

Panama - Synthetic Latex Rubber - Market Analysis, Forecast, Size, Trends And Insights

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Synthetic Latex Rubber Price in Panama - 2023

Synthetic Latex Rubber Price in Panama (CIF) - 2022

In 2022, the average synthetic latex rubber import price amounted to $1,311 per ton, dropping by -35.6% against the previous year. Overall, the import price showed a deep contraction. The pace of growth was the most pronounced in 2014 when the average import price increased by 46% against the previous year. The import price peaked at $2,966 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($3,163 per ton), while the price for Costa Rica ($506 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Synthetic Latex Rubber Price in Panama (FOB) - 2022

The average synthetic latex rubber export price stood at $2,646 per ton in 2022, reducing by -5.5% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic latex rubber export price increased by +73.1% against 2016 indices. The growth pace was the most rapid in 2019 an increase of 28%. The export price peaked at $2,801 per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($4,001 per ton), while the average price for exports to Ecuador ($493 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+32.4%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Latex Rubber Imports in Panama

In 2022, the amount of synthetic latex rubber imported into Panama soared to 150 tons, jumping by 21% compared with 2021 figures. The total import volume increased at an average annual rate of +8.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber imports declined significantly to $197K in 2022. Over the period under review, total imports indicated a measured expansion from 2019 to 2022: its value increased at an average annual rate of +4.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.9% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 48%. As a result, imports attained the peak of $252K, and then contracted rapidly in the following year.

Import of Synthetic Latex Rubber in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	101	101	168	108	2.3%
Costa Rica	13.5	1.2	12.4	53.7	58.4%
Free Zones	0.1	0.2	0.4	24.3	524.0%
Thailand	26.2	20.2	26.7	N/A	0.9%
China	7.6	7.3	9.3	N/A	10.6%
France	N/A	27.9	N/A	N/A	0%
Italy	18.3	5.3	20.9	N/A	6.9%
Others	9.0	7.0	14.8	11.5	8.5%
Total	175	170	252	197	4.0%

Top Suppliers of Synthetic Latex Rubber to Panama in 2022:

Costa Rica (106.0 tons)
United States (34.0 tons)
Free Zones (7.9 tons)

Synthetic Latex Rubber Exports in Panama

For the fourth year in a row, Panama recorded growth in shipments abroad of synthetic latex rubber, which increased by 81% to 27 tons in 2022. Over the period under review, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber exports surged to $71K in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 71% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Export of Synthetic Latex Rubber in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Colombia	6.4	15.0	19.8	30.3	67.9%
Nicaragua	4.8	4.5	6.8	12.5	37.6%
Dominican Republic	0.7	4.3	6.4	11.9	157.1%
Guatemala	1.6	2.2	3.5	6.5	59.6%
Peru	0.5	0.6	1.0	2.2	63.9%
Honduras	0.4	0.6	0.9	1.6	58.7%
Venezuela	0.4	0.4	0.8	1.4	51.8%
Others	2.4	1.9	2.5	4.4	22.4%
Total	17.3	29.5	41.6	71.0	60.1%

Top Export Markets for Synthetic Latex Rubber from Panama in 2022:

Colombia (7.6 tons)
Nicaragua (6.8 tons)
Dominican Republic (6.5 tons)
Guatemala (1.7 tons)
Honduras (0.9 tons)
Peru (0.6 tons)
Venezuela (0.6 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the synthetic latex rubber market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20171050 - Synthetic latex rubber

Country coverage:

Panama

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Panama
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023