Panama: Amino-Resin Market 2024

Amino-Resin Market Size in Panama

The Panamanian amino-resin market expanded sharply to $X in 2022, growing by X% against the previous year. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Amino-resin consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Amino-Resin Production in Panama

In value terms, amino-resin production expanded notably to $X in 2022 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Amino-Resin Exports

Exports from Panama

In 2022, overseas shipments of amino-resins, phenolic resins and polyurethanes (in primary forms) decreased by X% to X tons, falling for the fifth consecutive year after six years of growth. Overall, exports, however, showed a mild increase. The pace of growth was the most pronounced in 2015 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, amino-resin exports contracted notably to $X in 2022. Over the period under review, exports, however, enjoyed a tangible increase. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) was the main destination for amino-resin exports from Panama, accounting for a X% share of total exports. Moreover, amino-resin exports to Colombia exceeded the volume sent to the second major destination, Paraguay (X tons), fourfold. The third position in this ranking was held by Venezuela (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (X% per year) and Venezuela (X% per year).

In value terms, Colombia ($X) remains the key foreign market for amino-resins, phenolic resins and polyurethanes (in primary forms) exports from Panama, comprising X% of total exports. The second position in the ranking was held by Paraguay ($X), with a X% share of total exports. It was followed by Costa Rica, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (X% per year) and Costa Rica (X% per year).

Export Prices by Country

In 2022, the average amino-resin export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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 Guatemala ($X per ton), while the average price for exports to Venezuela ($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 Ecuador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Amino-Resin Imports

Imports into Panama

In 2022, amino-resin imports into Panama surged to X tons, rising by X% compared with the year before. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, amino-resin imports soared to $X in 2022. Overall, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Free Zones (X tons), Spain (X tons) and Indonesia (X tons) were the main suppliers of amino-resin imports to Panama, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Free Zones ($X) constituted the largest supplier of amino-resins, phenolic resins and polyurethanes (in primary forms) to Panama, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with a X% share of total imports. It was followed by the United States, with an X% share.

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

Import Prices by Country

In 2022, the average amino-resin import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price showed a mild slump. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :