Panama: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in Panama

In 2022, the Panamanian metal crown cork market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, the total consumption indicated pronounced 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 increased by X% against 2020 indices. Metal crown cork consumption peaked in 2022 and is expected to retain growth in the near future.

Metal Crown Cork Production in Panama

In value terms, metal crown cork production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Metal crown cork production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Metal Crown Cork Exports

Exports from Panama

In 2019, the amount of iron or steel crown corks exported from Panama surged to X units, increasing by X% compared with 2018 figures. In general, exports, however, showed a mild slump. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2019, the exports stood at a somewhat lower figure.

In value terms, metal crown cork exports skyrocketed to $X in 2019. Over the period under review, exports, however, faced a deep slump. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2019, the exports failed to regain momentum.

Exports by Country

Aruba (X units), Venezuela (X units) and the United States (X units) were the main destinations of metal crown cork exports from Panama, together comprising X% of total exports.

From 2012 to 2019, the biggest increases were recorded for Aruba (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Aruba ($X), Venezuela ($X) and the United States ($X) were the largest markets for metal crown cork exported from Panama worldwide, with a combined X% share of total exports.

Among the main countries of destination, Aruba, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2019, the average metal crown cork export price amounted to $X per thousand units, declining by X% against the previous year. Over the period under review, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per thousand units. From 2014 to 2019, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2019, amid the top suppliers, the highest price was recorded for prices to Costa Rica ($X per thousand units) and Barbados ($X per thousand units), while the average price for exports to Aruba ($X per thousand units) and the United States ($X per thousand units) were amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (X%), while the prices for the other major destinations experienced a decline.

Metal Crown Cork Imports

Imports into Panama

Metal crown cork imports into Panama reduced to X units in 2022, declining by X% on the previous year's figure. Overall, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, metal crown cork imports soared to $X in 2022. In general, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Honduras (X units), Costa Rica (X units) and Mexico (X units) were the main suppliers of metal crown cork imports to Panama, together accounting for X% of total imports.

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

In value terms, Honduras ($X) constituted the largest supplier of iron or steel crown corks to Panama, comprising X% of total imports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Honduras stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Mexico (X% per year).

Import Prices by Country

The average metal crown cork import price stood at $X per thousand units in 2022, growing by X% against the previous year. Overall, the import price recorded perceptible growth. The import price peaked at $X per thousand units in 2015; however, from 2016 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 Honduras ($X per thousand units), while the price for Peru ($X per thousand units) was amongst the lowest.

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

Source: IndexBox Platform

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