Panama: Plastic Packaging Market 2024

Plastic Packaging Market Size in Panama

The Panamanian plastic packaging market contracted to $X in 2022, dropping by X% against the previous year. Over the period under review, the total consumption indicated a temperate 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. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Plastic Packaging Production in Panama

In value terms, plastic packaging production declined slightly to $X in 2022 estimated in export price. Overall, production showed a noticeable setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Plastic packaging production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plastic Packaging Exports

Exports from Panama

In 2022, after two years of decline, there was significant growth in overseas shipments of plastic packaging, when their volume increased by X% to X tons. Overall, exports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic packaging exports rose notably to $X in 2022. In general, exports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Costa Rica (X tons), Canada (X tons) and the United States (X tons) were the main destinations of plastic packaging exports from Panama, together comprising X% of total exports. Free Zones, Mexico, Curacao and Nicaragua lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Free Zones (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Canada ($X) and the United States ($X) were the largest markets for plastic packaging exported from Panama worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Canada, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastic packaging export price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price showed a deep setback. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Costa Rica ($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 Canada (X%), while the prices for the other major destinations experienced a decline.

Plastic Packaging Imports

Imports into Panama

In 2022, the amount of plastic packaging imported into Panama shrank to X tons, reducing by X% against 2021 figures. Overall, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, plastic packaging imports rose slightly to $X in 2022. In general, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

Costa Rica (X tons), China (X tons) and the United States (X tons) were the main suppliers of plastic packaging imports to Panama, with a combined X% share of total imports. El Salvador, Peru, Guatemala and Mexico lagged somewhat behind, together comprising a further X%.

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

In value terms, Costa Rica ($X), China ($X) and the United States ($X) appeared to be the largest plastic packaging suppliers to Panama, with a combined X% share of total imports. Guatemala, Mexico, El Salvador and Peru lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, El Salvador, with a CAGR of X%, saw 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 plastic packaging import price stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price, however, saw a deep contraction. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Mexico ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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