Panama: Abrasives Market 2024

Abrasives Market Size in Panama

The Panamanian abrasives market amounted to $X in 2022, approximately mirroring the previous year. Over the period under review, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market attained the peak level at $X in 2019; afterwards, it flattened through to 2022.

Abrasives Production in Panama

In value terms, abrasives production amounted to $X in 2022 estimated in export price. In general, production, however, saw a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Abrasives production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Abrasives Exports

Exports from Panama

Abrasives exports from Panama amounted to X tons in 2022, standing approx. at the previous year's figure. In general, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, abrasives exports stood at $X in 2022. Over the period under review, exports showed a sharp contraction. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nicaragua (X tons), Costa Rica (X tons) and Guyana (X kg) were the main destinations of abrasives exports from Panama, together comprising X% of total exports. Chile lagged somewhat behind, accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for abrasives exported from Panama were Costa Rica ($X), Nicaragua ($X) and Chile ($X), together comprising X% of total exports.

Chile, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average abrasives export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price recorded a abrupt contraction. The growth pace was the most rapid in 2018 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Nicaragua ($X 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 the Dominican Republic (X%), while the prices for the other major destinations experienced a decline.

Abrasives Imports

Imports into Panama

In 2022, overseas purchases of abrasives (natural) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, abrasives imports surged to $X in 2022. Overall, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest abrasives supplier to Panama, with a X% share of total imports. Moreover, abrasives imports from the United States exceeded the figures recorded by the second-largest supplier, Australia (X tons), more than tenfold. The third position in this ranking was held by South Africa (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and South Africa (X% per year).

In value terms, the United States ($X) constituted the largest supplier of abrasives (natural) to Panama, comprising X% of total imports. The second position in the ranking was taken by South Africa ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (X% per year) and Australia (X% per year).

Import Prices by Country

In 2022, the average abrasives import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, saw a deep setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :