Report Update Apr 1, 2024

Panama - Liquefied Petroleum Gas (LPG) - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Panama

In 2022, the Panamanian liquefied petroleum gas (LPG) market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, enjoyed a temperate expansion. Liquefied petroleum gas (LPG) consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Panama

In 2022, shipments abroad of liquefied petroleum gas (LPG) increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports posted buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) exports soared to $X in 2022. In general, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Panama, with a X% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to South Korea exceeded the volume sent to the second major destination, Ecuador (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Belgium (X% per year).

In value terms, South Korea ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Ecuador ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Belgium (X% per year).

Export Prices by Country

In 2022, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2022: its price 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, liquefied petroleum gas (LPG) export price increased by X% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Ecuador ($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 Jamaica (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Panama

In 2022, liquefied petroleum gas (lpg) imports into Panama contracted remarkably to X tons, with a decrease of X% on the year before. Over the period under review, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, liquefied petroleum gas (LPG) imports surged to $X in 2022. In general, imports, however, posted temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), Free Zones (X tons) and Colombia (X tons) were the main suppliers of liquefied petroleum gas (LPG) imports to Panama, together accounting for X% of total imports.

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

In value terms, Free Zones ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Panama, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Trinidad and Tobago, with a 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: the United States (X% per year) and Trinidad and Tobago (X% per year).

Import Prices by Country

The average liquefied petroleum gas (LPG) import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, showed a noticeable curtailment. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Colombia ($X 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 (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for liquefied petroleum gas (lpg) in the world?

Qatar constituted the country with the largest volume of liquefied petroleum gas LPG) consumption, accounting for 34% of total volume. Moreover, liquefied petroleum gas LPG) consumption in Qatar exceeded the figures recorded by the second-largest consumer, the United States, fourfold. China ranked third in terms of total consumption with a 7.8% share.

What are the largest producers of liquefied petroleum gas (lpg) in the world?

The countries with the highest volumes of production in 2022 were Qatar, the United States and the United Arab Emirates, with a combined 73% share of global production.

What are the leading suppliers of liquefied petroleum gas (lpg) to Panama?

In value terms, Free Zones constituted the largest supplier of liquefied petroleum gas LPG) to Panama, comprising 70% of total imports. The second position in the ranking was held by the United States, with a 29% share of total imports. It was followed by Trinidad and Tobago, with a 1.3% share.

What are the leading importers of liquefied petroleum gas (lpg) from Panama?

In value terms, South Korea remains the key foreign market for liquefied petroleum gas LPG) exports from Panama, comprising 65% of total exports. The second position in the ranking was held by Ecuador, with a 13% share of total exports.

What is the average export price for liquefied petroleum gas (lpg) in Panama?

In 2022, the average liquefied petroleum gas LPG) export price amounted to $727 per ton, surging by 56% against the previous year.

What is the average import price for liquefied petroleum gas (lpg) in Panama?

The average liquefied petroleum gas LPG) import price stood at $724 per ton in 2022, rising by 74% against the previous year.

This report provides an in-depth analysis of the market for liquefied petroleum gas (lpg) 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:

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:

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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
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How to increase your profit margins
How to make your supply chain more sustainable
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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