Panama: Market for Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel 2024

Market Size for Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel in Panama

The Panamanian market for seamless casing, tubing and drill oil or gas pipes of stainless steel fell remarkably to $X in 2022, reducing 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). Over the period under review, consumption saw a dramatic slump. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Exports of Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel

Exports from Panama

In 2022, overseas shipments of seamless casing, tubing and drill oil or gas pipes of stainless steel decreased by X% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports faced a dramatic curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of seamless casing, tubing and drill oil or gas pipes of stainless steel fell notably to $X in 2022. Overall, exports faced a sharp reduction. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports of hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X kg) was the main destination for exports of seamless casing, tubing and drill oil or gas pipes of stainless steel from Panama, with a X% share of total exports. Moreover, exports of seamless casing, tubing and drill oil or gas pipes of stainless steel to the Dominican Republic exceeded the volume sent to the second major destination, Jamaica (X kg), eightfold.

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

In value terms, the Dominican Republic ($X) emerged as the key foreign market for seamless casing, tubing and drill oil or gas pipes of stainless steel exports from Panama, comprising X% of total exports. The second position in the ranking was held by Jamaica ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average export price for seamless casing, tubing and drill oil or gas pipes of stainless steel amounted to $X per ton, dropping by X% against the previous year. In general, the export price showed a noticeable contraction. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a 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 the Dominican Republic ($X per ton), while the average price for exports to Jamaica ($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 Jamaica (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel

Imports into Panama

In 2022, approx. X tons of seamless casing, tubing and drill oil or gas pipes of stainless steel were imported into Panama; which is down by X% compared with the year before. In general, imports recorded a sharp reduction. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports of reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of seamless casing, tubing and drill oil or gas pipes of stainless steel shrank significantly to $X in 2022. Overall, imports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Costa Rica (X tons) and Free Zones (X tons) were the main suppliers of imports of seamless casing, tubing and drill oil or gas pipes of stainless steel to Panama.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest seamless casing, tubing and drill oil or gas pipe of stainless steel suppliers to Panama were Costa Rica ($X), China ($X) and Free Zones ($X), together accounting for X% of total imports.

In terms of the main suppliers, Costa Rica, 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 mixed trend patterns.

Import Prices by Country

The average import price for seamless casing, tubing and drill oil or gas pipes of stainless steel stood at $X per ton in 2022, declining by X% against the previous year. In general, import price indicated notable growth 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. The pace of growth was the most pronounced in 2013 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 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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