Report Update Nov 1, 2024

Panama - Acrylic Acid and Its Salts and Other Monocarboxylic Acid - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Panama

The Panamanian monocarboxylic acid market fell remarkably to $X in 2022, with a decrease of -30.9% 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). In general, consumption, however, continues to indicate a significant expansion. Monocarboxylic acid consumption peaked at $X in 2021, and then dropped notably in the following year.

Monocarboxylic Acid Exports

Exports from Panama

In 2022, overseas shipments of acrylic acid and its salts and other monocarboxylic acid decreased by -28.1% to X tons, falling for the third year in a row after two years of growth. In general, exports faced a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 163%. 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, monocarboxylic acid exports surged to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 182%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Venezuela (X kg) was the main destination for monocarboxylic acid exports from Panama, with a 46% share of total exports. Moreover, monocarboxylic acid exports to Venezuela exceeded the volume sent to the second major destination, Nicaragua (X kg), twofold. The third position in this ranking was taken by the United States (X kg), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela totaled -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-23.2% per year) and the United States (-8.8% per year).

In value terms, Venezuela ($X), Costa Rica ($X) and Nicaragua ($X) constituted the largest markets for monocarboxylic acid exported from Panama worldwide, with a combined 81% share of total exports. The United States and Guatemala lagged somewhat behind, together accounting for a further 18%.

Guatemala, with a CAGR of +16.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average monocarboxylic acid export price amounted to $X per ton, growing by 66% against the previous year. In general, the export price showed significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Costa Rica ($X per ton), while the average price for exports to Guatemala ($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 Costa Rica (+38.1%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports into Panama

Monocarboxylic acid imports into Panama fell markedly to X tons in 2022, reducing by -37.6% on the previous year's figure. Over the period under review, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 333%. Over the period under review, imports reached the maximum at X tons in 2021, and then dropped dramatically in the following year.

In value terms, monocarboxylic acid imports dropped sharply to $X in 2022. Overall, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2017 with an increase of 521% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced sharply in the following year.

Imports by Country

China (X tons), Free Zones (X tons) and Germany (X tons) were the main suppliers of monocarboxylic acid imports to Panama, together comprising 100% of total imports.

From 2012 to 2022, the biggest increases were recorded for Free Zones (with a CAGR of +134.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest monocarboxylic acid suppliers to Panama were China ($X), Germany ($X) and Free Zones ($X), with a combined 99% share of total imports.

In terms of the main suppliers, Free Zones, with a CAGR of +157.6%, 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 monocarboxylic acid import price stood at $X per ton in 2022, increasing by 15% against the previous year. In general, the import price saw measured growth. The most prominent rate of growth was recorded in 2017 an increase of 43%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the monocarboxylic acid 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:

Prodcom 20143310 - Acrylic acid and its salts and other monocarboxylic acid

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