Report Update May 1, 2024

Panama - Asphalt or Bitumen Articles - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Panama

In 2022, the Panamanian asphalt or bitumen article market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption posted a significant increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Panama

In 2022, asphalt or bitumen article exports from Panama shrank remarkably to X tons, with a decrease of X% against the previous year's figure. In general, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article exports shrank sharply to $X in 2022. Over the period under review, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X tons), Costa Rica (X tons) and Belize (X tons) were the main destinations of asphalt or bitumen article exports from Panama, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Costa Rica ($X), Belize ($X) and the Dominican Republic ($X) appeared to be the largest markets for asphalt or bitumen article exported from Panama worldwide, with a combined X% share of total exports.

Among the main countries of destination, Belize, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to the Dominican Republic ($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 Belize (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Panama

In 2022, overseas purchases of asphalt or bitumen articles increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, asphalt or bitumen article imports expanded markedly to $X in 2022. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Italy (X tons), Ecuador (X tons) and Mexico (X tons) were the main suppliers of asphalt or bitumen article imports to Panama, together comprising X% of total imports. Canada, Venezuela, China, Colombia, Portugal, the United States and Free Zones lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Italy ($X) and Colombia ($X) appeared to be the largest asphalt or bitumen article suppliers to Panama, with a combined X% share of total imports. Canada, Mexico, China, Venezuela, the United States, Portugal and Free Zones lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 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 Colombia ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for asphalt or bitumen articles in the world?

The United States constituted the country with the largest volume of asphalt or bitumen article consumption, accounting for 42% of total volume. Moreover, asphalt or bitumen article consumption in the United States exceeded the figures recorded by the second-largest consumer, China, twofold. Brazil ranked third in terms of total consumption with a 3.6% share.

What are the largest producers of asphalt or bitumen articles in the world?

The United States remains the largest asphalt or bitumen article producing country worldwide, accounting for 42% of total volume. Moreover, asphalt or bitumen article production in the United States exceeded the figures recorded by the second-largest producer, China, twofold. Brazil ranked third in terms of total production with a 3.5% share.

What are the leading suppliers of asphalt or bitumen articles to Panama?

In value terms, Ecuador, Italy and Colombia appeared to be the largest asphalt or bitumen article suppliers to Panama, together accounting for 69% of total imports. Canada, Mexico, China, Venezuela, the United States, Portugal and Free Zones lagged somewhat behind, together accounting for a further 31%.

What are the leading importers of asphalt or bitumen articles from Panama?

In value terms, Costa Rica, Belize and the Dominican Republic were the largest markets for asphalt or bitumen article exported from Panama worldwide, together accounting for 99% of total exports.

What is the average export price for asphalt or bitumen articles in Panama?

The average asphalt or bitumen article export price stood at $1,371 per ton in 2022, increasing by 70% against the previous year.

What is the average import price for asphalt or bitumen articles in Panama?

In 2022, the average asphalt or bitumen article import price amounted to $1,154 per ton, falling by -9% against the previous year.

This report provides an in-depth analysis of the market for asphalt or bitumen article 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 23991255 - Articles of asphalt or of similar materials, e.g. petroleum bitumen or coal tar pitch, in rolls
Prodcom 23991290 - Products based on bitumen (excluding in rolls)

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