Panama: Amino-Resin Market 2024

Amino-Resin Market Size in Panama

The Panamanian amino-resin market was estimated at $X in 2022, surging by X% against the previous year. Over the period under review, consumption continues to indicate perceptible growth. Amino-resin consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Amino-Resin Production in Panama

In value terms, amino-resin production rose remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Amino-Resin Exports

Exports from Panama

In 2022, amino-resin exports from Panama fell significantly to X tons, dropping by X% compared with 2021. Over the period under review, exports showed a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, amino-resin exports shrank to $X in 2022. In general, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for amino-resin exports from Panama, accounting for a X% share of total exports. Moreover, amino-resin exports to Colombia exceeded the volume sent to the second major destination, the Dominican Republic (X tons), threefold. The third position in this ranking was held by Guatemala (X tons), with a X% share.

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

In value terms, Colombia ($X) remains the key foreign market for amino-resins, phenolic resins and polyurethanes (in primary forms) exports from Panama, comprising X% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with an X% share of total exports. It was followed by Guatemala, with an X% share.

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

Export Prices by Country

The average amino-resin export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price, however, saw a mild decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. 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 failed to regain momentum.

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 Peru ($X per ton), while the average price for exports to the Dominican Republic ($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 Cuba (X%), while the prices for the other major destinations experienced more modest paces of growth.

Amino-Resin Imports

Imports into Panama

In 2022, imports of amino-resins, phenolic resins and polyurethanes (in primary forms) into Panama soared to X tons, increasing by X% compared with 2021 figures. In general, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, amino-resin imports surged to $X in 2022. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Free Zones (X tons) constituted the largest supplier of amino-resin to Panama, accounting for a X% share of total imports. Moreover, amino-resin imports from Free Zones exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Free Zones amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Indonesia (X.3% per year).

In value terms, Free Zones ($X) constituted the largest supplier of amino-resins, phenolic resins and polyurethanes (in primary forms) to Panama, comprising X% of total imports. The second position in the ranking was held by Spain ($X), with a X% share of total imports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Free Zones amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average amino-resin import price amounted to $X per ton, reducing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform