Report Update May 1, 2024

Panama - Petroleum Bitumen - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Petroleum Bitumen Market 2024

Petroleum Bitumen Market Size in Panama

The Panamanian petroleum bitumen market skyrocketed to $X in 2022, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a prominent expansion. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Petroleum Bitumen Exports

Exports from Panama

In 2022, approx. X tons of petroleum bitumen were exported from Panama; declining by X% compared with 2021 figures. In general, exports continue to indicate a deep slump. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, petroleum bitumen exports shrank modestly to $X in 2022. Over the period under review, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) was the main destination for petroleum bitumen exports from Panama, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Nigeria totaled X%.

In value terms, Nigeria ($X) also remains the key foreign market for petroleum bitumen exports from Panama.

From 2012 to 2022, the average annual rate of growth in terms of value to Nigeria totaled X%.

Export Prices by Country

In 2022, the average petroleum bitumen export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Petroleum Bitumen Imports

Imports into Panama

Petroleum bitumen imports into Panama surged to X tons in 2022, with an increase of X% against 2021. Overall, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, petroleum bitumen imports surged to $X in 2022. Over the period under review, imports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of petroleum bitumen to Panama, with a X% share of total imports. Moreover, petroleum bitumen imports from the United States exceeded the figures recorded by the second-largest supplier, Colombia (X tons), threefold.

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

In value terms, the United States ($X) constituted the largest supplier of petroleum bitumen to Panama, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports.

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

Import Prices by Country

The average petroleum bitumen 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 perceptible downturn. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for petroleum bitumen in the world?

The countries with the highest volumes of consumption in 2023 were China, the United States and India, with a combined 49% share of global consumption. Russia, Qatar, Iran, the United Arab Emirates, South Korea, Japan, France, Germany, Saudi Arabia and Turkey lagged somewhat behind, together comprising a further 25%.

What are the largest producers of petroleum bitumen in the world?

The countries with the highest volumes of production in 2022 were China, the United States and Russia, together comprising 44% of global production.

What are the leading suppliers of petroleum bitumen to Panama?

In value terms, the United States constituted the largest supplier of petroleum bitumen to Panama, comprising 76% of total imports. The second position in the ranking was held by Colombia, with a 23% share of total imports.

What are the leading importers of petroleum bitumen from Panama?

In value terms, Nigeria remains the key foreign market for petroleum bitumen exports from Panama.

What is the average export price for petroleum bitumen in Panama?

In 2022, the average petroleum bitumen export price amounted to $551 per ton, with an increase of 11% against the previous year.

What is the average import price for petroleum bitumen in Panama?

The average petroleum bitumen import price stood at $469 per ton in 2022, picking up by 17% against the previous year.

This report provides an in-depth analysis of the petroleum bitumen market 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:

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