Panama: Aluminium Alloy Tube Market 2024

Aluminium Alloy Tube Market Size in Panama

The Panamanian aluminium alloy tube market soared to $X in 2022, increasing by 19% 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 posted a buoyant expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Aluminium Alloy Tube Exports

Exports from Panama

In 2022, approx. X tons of aluminium alloy tubes and pipes were exported from Panama; increasing by 9.5% against 2021 figures. Over the period under review, exports, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2019 when exports increased by 311%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, aluminium alloy tube exports skyrocketed to $X in 2022. Overall, exports posted a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 232%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nicaragua (X tons) was the main destination for aluminium alloy tube exports from Panama, accounting for a 43% share of total exports. Moreover, aluminium alloy tube exports to Nicaragua exceeded the volume sent to the second major destination, Cuba (X tons), twofold. Ecuador (X tons) ranked third in terms of total exports with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume to Nicaragua amounted to +41.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+1.5% per year) and Ecuador (+3.4% per year).

In value terms, Ecuador ($X) remains the key foreign market for aluminium alloy tubes and pipes exports from Panama, comprising 45% of total exports. The second position in the ranking was taken by Cuba ($X), with an 11% share of total exports. It was followed by Guatemala, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to Ecuador totaled +37.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+9.8% per year) and Guatemala (+9.5% per year).

Export Prices by Country

The average aluminium alloy tube export price stood at $X per ton in 2022, picking up by 16% against the previous year. Over the period under review, the export price posted resilient growth. The growth pace was the most rapid in 2020 when the average export price increased by 126% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Nicaragua ($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 Ecuador (+33.0%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Alloy Tube Imports

Imports into Panama

In 2022, approx. X tons of aluminium alloy tubes and pipes were imported into Panama; jumping by 33% compared with the previous year. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 when imports increased by 64%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, aluminium alloy tube imports rose rapidly to $X in 2022. In general, imports showed a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 62%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), China (X tons) and Argentina (X tons) were the main suppliers of aluminium alloy tube imports to Panama, together accounting for 50% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +177.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminium alloy tube suppliers to Panama were Spain ($X), China ($X) and Mexico ($X), together comprising 48% of total imports. Slovenia, the United States, Serbia, Free Zones, Italy, Taiwan (Chinese), Portugal and Argentina lagged somewhat behind, together comprising a further 35%.

Serbia, with a CAGR of +77.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average aluminium alloy tube import price amounted to $X per ton, falling by -16.9% against the previous year. Over the period under review, the import price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 an increase of 31%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform