Panama: Coated Arc-Welding Electrode Market 2024

Coated Arc-Welding Electrode Market Size in Panama

In 2022, the Panamanian coated arc-welding electrode market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption continues to indicate a noticeable contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Coated Arc-Welding Electrode Production in Panama

In value terms, coated arc-welding electrode production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a deep setback. The growth pace was the most rapid in 2020 with an increase of X%. Coated arc-welding electrode production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Coated Arc-Welding Electrode Exports

Exports from Panama

In 2022, overseas shipments of coated base metal electrodes for electric arc-welding decreased by X% to X tons, falling for the fourth consecutive year after four years of growth. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, coated arc-welding electrode exports amounted to $X in 2022. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Venezuela (X tons), the Dominican Republic (X tons) and Cuba (X tons) were the main destinations of coated arc-welding electrode exports from Panama, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X), the Dominican Republic ($X) and Cuba ($X) were the largest markets for coated arc-welding electrode exported from Panama worldwide, with a combined X% share of total exports.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

The average coated arc-welding electrode export price stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Trinidad and Tobago ($X per ton) and the United States ($X per ton), while the average price for exports to Honduras ($X per ton) and the Dominican Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Trinidad and Tobago (X%), while the prices for the other major destinations experienced a decline.

Coated Arc-Welding Electrode Imports

Imports into Panama

In 2022, the amount of coated base metal electrodes for electric arc-welding imported into Panama plummeted to X tons, reducing by X% against the previous year's figure. In general, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, coated arc-welding electrode imports amounted to $X in 2022. Over the period under review, imports, however, recorded significant growth. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Guatemala (X tons), China (X tons) and Colombia (X tons) were the main suppliers of coated arc-welding electrode imports to Panama, with a combined X% share of total imports.

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

In value terms, Guatemala ($X), Mexico ($X) and the United States ($X) were the largest coated arc-welding electrode suppliers to Panama, with a combined X% share of total imports.

Guatemala, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average coated arc-welding electrode import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a perceptible descent. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform