Panama: Organic Pigments Market 2024

Organic Pigments Market Size in Panama

The Panamanian organic pigments market contracted to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Organic pigments consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Organic Pigments Production in Panama

In value terms, organic pigments production dropped to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Organic pigments production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Organic Pigments Exports

Exports from Panama

In 2022, overseas shipments of synthetic organic coloring matter and pigments increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, recorded a abrupt slump. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, organic pigments exports reduced to $X in 2022. Over the period under review, exports, however, showed a sharp descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons) was the main destination for organic pigments exports from Panama, accounting for a X% share of total exports. Moreover, organic pigments exports to Peru exceeded the volume sent to the second major destination, Colombia (X tons), threefold. Honduras (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Peru stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Honduras (X% per year).

In value terms, Peru ($X) remains the key foreign market for synthetic organic coloring matter and pigments exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports. It was followed by Honduras, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Honduras (X% per year).

Export Prices by Country

The average organic pigments export price stood at $X per ton in 2021, with an increase of X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (X%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Panama

In 2022, approx. X tons of synthetic organic coloring matter and pigments were imported into Panama; dropping by X% against 2021. Over the period under review, imports saw a precipitous shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, organic pigments imports dropped to $X in 2022. Overall, imports saw a dramatic downturn. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Israel (X tons), Colombia (X tons) and the United States (X tons) were the main suppliers of organic pigments imports to Panama, with a combined X% share of total imports. Free Zones, China, Mexico, Costa Rica, Germany, India, Thailand and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the biggest increases were recorded for Free Zones (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), China ($X) and Mexico ($X) appeared to be the largest organic pigments suppliers to Panama, together comprising X% of total imports. Israel, Free Zones, the United States, Germany, Costa Rica, India, Thailand and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

Free Zones, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average organic pigments import price stood at $X per ton in 2021, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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