Panama: Polyurethanes Market 2024

Polyurethanes Market Size in Panama

The Panamanian polyurethanes market expanded markedly to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Polyurethanes Production in Panama

In value terms, polyurethanes production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Polyurethanes production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Polyurethanes Exports

Exports from Panama

In 2022, approx. X tons of polyurethanes in primary forms were exported from Panama; shrinking by X% on the previous year. Overall, exports saw a significant contraction. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, polyurethanes exports shrank dramatically to $X in 2022. In general, exports showed a sharp reduction. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Venezuela (X tons) was the main destination for polyurethanes exports from Panama, with a X% share of total exports. Moreover, polyurethanes exports to Venezuela exceeded the volume sent to the second major destination, Nicaragua (X tons), fourfold.

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

In value terms, Venezuela ($X) emerged as the key foreign market for polyurethanes in primary forms exports from Panama, comprising X% of total exports. The second position in the ranking was held by Nicaragua ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Venezuela was relatively modest.

Export Prices by Country

In 2022, the average polyurethanes export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Venezuela stood at $X per ton.

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

Polyurethanes Imports

Imports into Panama

After three years of decline, purchases abroad of polyurethanes in primary forms increased by X% to X tons in 2022. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, polyurethanes imports soared to $X in 2022. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Free Zones (X tons) constituted the largest supplier of polyurethanes to Panama, with a X% share of total imports. Moreover, polyurethanes imports from Free Zones exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Free Zones ($X) constituted the largest supplier of polyurethanes in primary forms to Panama, comprising X% of total imports. The second position in the ranking was held by Spain ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

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

Import Prices by Country

In 2022, the average polyurethanes import price amounted to $X per ton, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then reduced 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 Romania ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform