Panama: Market for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like 2024

Market Size for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Panama

In 2022, the Panamanian articles of fiber cement market increased by 18% to $X, rising for the fourth year in a row after five years of decline. Over the period under review, consumption, however, saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Panama

In value terms, articles of fiber cement production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep downturn. The growth pace was the most rapid in 2020 with an increase of 176%. Articles of fiber cement production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Exports from Panama

In 2022, overseas shipments of articles of asbestos-cement, cellulose fiber-cement or the like increased by 48% to X tons, rising for the third consecutive year after two years of decline. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2017 with an increase of 291%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, articles of fiber cement exports stood at $X in 2022. Over the period under review, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 115%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cuba (X tons) was the main destination for articles of fiber cement exports from Panama, accounting for a 55% share of total exports. Moreover, articles of fiber cement exports to Cuba exceeded the volume sent to the second major destination, Honduras (X tons), fourfold. The third position in this ranking was held by Guatemala (X tons), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to Cuba stood at +92.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+66.4% per year) and Guatemala (+43.3% per year).

In value terms, Cuba ($X), Guatemala ($X) and Venezuela ($X) constituted the largest markets for articles of fiber cement exported from Panama worldwide, with a combined 50% share of total exports.

Cuba, with a CAGR of +39.0%, 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 articles of fiber cement export price amounted to $X per ton, which is down by -31.8% against the previous year. Overall, the export price continues to indicate a dramatic descent. The growth pace was the most rapid in 2014 an increase of 37% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Honduras ($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 Jamaica (-16.9%), while the prices for the other major destinations experienced a decline.

Imports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Imports into Panama

In 2022, purchases abroad of articles of asbestos-cement, cellulose fiber-cement or the like increased by 9.8% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 1,937%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, articles of fiber cement imports expanded remarkably to $X in 2022. In general, imports showed significant growth. The pace of growth was the most pronounced in 2017 with an increase of 603% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Colombia (X tons) constituted the largest supplier of articles of fiber cement to Panama, accounting for a 64% share of total imports. Moreover, articles of fiber cement imports from Colombia exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia stood at +41.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (+50.9% per year) and China (+12.9% per year).

In value terms, Colombia ($X), Costa Rica ($X) and China ($X) constituted the largest articles of fiber cement suppliers to Panama, with a combined 92% share of total imports.

Among the main suppliers, Costa Rica, with a CAGR of +31.9%, saw 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

In 2022, the average articles of fiber cement import price amounted to $X per ton, surging by 3.7% against the previous year. In general, the import price, however, recorded a abrupt slump. The growth pace was the most rapid in 2013 an increase of 91%. The import price peaked at $X per ton in 2014; however, from 2015 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 China ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform