Panama: Activated Carbon Market 2024

Activated Carbon Market Size in Panama

The Panamanian activated carbon market rose markedly to $X in 2022, picking up by 14% against the previous year. In general, consumption, however, recorded a pronounced slump. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Activated Carbon Production in Panama

In value terms, activated carbon production amounted to $X in 2022 estimated in export price. In general, production, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 487%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Activated Carbon Exports

Exports from Panama

In 2022, approx. X tons of activated carbon were exported from Panama; growing by 224% against the year before. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 696% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, activated carbon exports surged to $X in 2022. In general, exports saw a tangible increase. The pace of growth appeared the most rapid in 2014 when exports increased by 896% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Suriname (X tons) was the main destination for activated carbon exports from Panama, with a 51% share of total exports. Moreover, activated carbon exports to Suriname exceeded the volume sent to the second major destination, Honduras (X tons), threefold. Venezuela (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Suriname was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+26.5% per year) and Venezuela (+23.8% per year).

In value terms, Suriname ($X) emerged as the key foreign market for activated carbon exports from Panama, comprising 51% of total exports. The second position in the ranking was held by Venezuela ($X), with a 14% share of total exports. It was followed by Costa Rica, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Suriname was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+10.7% per year) and Costa Rica (+10.4% per year).

Export Prices by Country

The average activated carbon export price stood at $X per ton in 2022, declining by -7.7% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, activated carbon export price increased by +67.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 81%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.

Activated Carbon Imports

Imports into Panama

In 2022, supplies from abroad of activated carbon increased by 78% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports posted a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 3,172%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, activated carbon imports skyrocketed to $X in 2022. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 2,506% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of activated carbon to Panama, accounting for a 60% share of total imports. Moreover, activated carbon imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Mexico (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +66.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.6% per year) and Mexico (+18.0% per year).

In value terms, China ($X), the United States ($X) and Mexico ($X) constituted the largest activated carbon suppliers to Panama, with a combined 90% share of total imports.

Among the main suppliers, China, with a CAGR of +65.1%, recorded the highest rates of growth with regard to 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 activated carbon import price stood at $X per ton in 2022, reducing by -22.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 36% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform