Panama: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Panama

The Panamanian rubber-to-metal and moulded article market declined modestly to $X in 2022, which is down by X% against the previous year. Overall, the total consumption indicated a strong 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, consumption decreased by X% against 2019 indices. Rubber-to-metal and moulded article consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Rubber-to-Metal and Moulded Articles in Panama

In value terms, rubber-to-metal and moulded article production declined modestly to $X in 2022 estimated in export price. In general, the total production indicated a resilient 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 2019 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Rubber-to-metal and moulded article production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Rubber-to-Metal and Moulded Articles

Exports from Panama

In 2022, approx. X tons of rubber-to-metal and moulded articles were exported from Panama; almost unchanged from 2021 figures. Overall, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, rubber-to-metal and moulded article exports amounted to $X in 2022. In general, exports saw a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X tons), Honduras (X tons) and the Dominican Republic (X tons) were the main destinations of rubber-to-metal and moulded article exports from Panama, with a combined X% share of total exports. Colombia, Venezuela, the United States, Guatemala, El Salvador, Costa Rica, Ecuador, Guyana, Trinidad and Tobago and Suriname lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Suriname (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for rubber-to-metal and moulded article exported from Panama were Chile ($X), Honduras ($X) and the Dominican Republic ($X), with a combined X% share of total exports. Colombia, Venezuela, the United States, Guatemala, El Salvador, Costa Rica, Ecuador, Trinidad and Tobago, Guyana and Suriname lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Suriname, 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 a decline.

Export Prices by Country

The average rubber-to-metal and moulded article export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price saw buoyant growth. The pace of growth was the most pronounced in 2016 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Venezuela ($X per ton) and Ecuador ($X per ton), while the average price for exports to Suriname ($X per ton) and the Dominican Republic ($X per ton) were amongst the lowest.

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

Imports of Rubber-to-Metal and Moulded Articles

Imports into Panama

In 2022, overseas purchases of rubber-to-metal and moulded articles were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports saw prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, rubber-to-metal and moulded article imports rose markedly to $X in 2022. Over the period under review, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of rubber-to-metal and moulded article to Panama, accounting for a X% share of total imports. Moreover, rubber-to-metal and moulded article imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was held by Chile (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Chile (X% per year).

In value terms, the largest rubber-to-metal and moulded article suppliers to Panama were the United States ($X), Mexico ($X) and Free Zones ($X), together accounting for X% of total imports.

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

Import Prices by Country

The average rubber-to-metal and moulded article import price stood at $X per ton in 2022, leveling off at the previous year. Overall, import price indicated a measured 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, rubber-to-metal and moulded article import price increased by X% against 2014 indices. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 more modest paces of growth.

Source: IndexBox Platform

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