Panama: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Panama

The Panamanian non-aqueous paint and varnish market fell slightly to $X in 2022, shrinking by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Panama

In value terms, non-aqueous paint and varnish production rose rapidly to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Panama

Non-aqueous paint and varnish exports from Panama skyrocketed to X tons in 2022, increasing by X% against the year before. In general, exports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-aqueous paint and varnish exports surged to $X in 2022. Over the period under review, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for non-aqueous paint and varnish exports from Panama, with a X% share of total exports. Moreover, non-aqueous paint and varnish exports to Mexico exceeded the volume sent to the second major destination, Colombia (X tons), sevenfold. The third position in this ranking was taken by Venezuela (X tons), with a X% share.

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

In value terms, Mexico ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Panama, comprising X% of total exports. The second position in the ranking was held by Colombia ($X), with a X% share of total exports. It was followed by Venezuela, with a X% share.

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

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Dominican Republic ($X per ton) and Free Zones ($X per ton), while the average price for exports to Mexico ($X per ton) and Venezuela ($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 Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Panama

In 2022, approx. X tons of paints and varnishes dispersed or dissolved in a non-aqueous medium were imported into Panama; waning by X% on 2021 figures. Over the period under review, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, non-aqueous paint and varnish imports dropped modestly to $X in 2022. Overall, imports, however, recorded significant growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest non-aqueous paint and varnish supplier to Panama, accounting for a X% share of total imports. Moreover, non-aqueous paint and varnish imports from Costa Rica exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Costa Rica amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (X% per year) and the United States (X% per year).

In value terms, Costa Rica ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Panama, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Free Zones, with a X% share.

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

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Free Zones ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :