Panama: Market for Casein Glues And Caseinates And Other Casein Derivatives 2024

Market Size for Casein Glues And Caseinates And Other Casein Derivatives in Panama

The Panamanian casein glue and caseinates market surged to $X in 2022, rising by 25% against the previous year. In general, consumption continues to indicate noticeable growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Casein Glues And Caseinates And Other Casein Derivatives in Panama

In value terms, casein glue and caseinates production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a moderate increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 188%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Casein Glues And Caseinates And Other Casein Derivatives

Exports from Panama

In 2022, approx. X tons of casein glues and caseinates and other casein derivatives were exported from Panama; picking up by 379% against 2021 figures. Overall, exports continue to indicate a buoyant increase. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, casein glue and caseinates exports skyrocketed to $X in 2022. In general, exports continue to indicate strong growth. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Suriname (X tons) was the main destination for casein glue and caseinates exports from Panama, with a 59% share of total exports. Moreover, casein glue and caseinates exports to Suriname exceeded the volume sent to the second major destination, Aruba (X kg), fivefold. The third position in this ranking was taken by Guyana (X kg), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Suriname amounted to +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (-3.5% per year) and Guyana (+29.6% per year).

In value terms, Suriname ($X) remains the key foreign market for casein glues and caseinates and other casein derivatives exports from Panama, comprising 69% of total exports. The second position in the ranking was taken by Aruba ($X), with an 11% share of total exports. It was followed by Honduras, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value to Suriname amounted to +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (-7.7% per year) and Honduras (+7.6% per year).

Export Prices by Country

The average casein glue and caseinates export price stood at $X per ton in 2022, with an increase of 39% against the previous year. In general, the export price, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2017 an increase of 84%. The export price peaked at $X per ton in 2019; however, from 2020 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 Honduras ($X per ton), while the average price for exports to Trinidad and Tobago ($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 Honduras (+7.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Casein Glues And Caseinates And Other Casein Derivatives

Imports into Panama

In 2022, the amount of casein glues and caseinates and other casein derivatives imported into Panama fell dramatically to X tons, declining by -16.8% on the previous year's figure. Overall, imports saw a dramatic contraction. The pace of growth was the most pronounced in 2017 with an increase of 8,266% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, casein glue and caseinates imports fell rapidly to $X in 2022. Over the period under review, imports saw a sharp decrease. The most prominent rate of growth was recorded in 2017 with an increase of 7,736%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Free Zones (X tons) was the main casein glue and caseinates supplier to Panama, accounting for a 94% share of total imports. Moreover, casein glue and caseinates imports from Free Zones exceeded the figures recorded by the second-largest supplier, the United States (X kg), more than tenfold.

From 2013 to 2022, the average annual rate of growth in terms of volume from Free Zones was relatively modest.

In value terms, Free Zones ($X) constituted the largest supplier of casein glues and caseinates and other casein derivatives to Panama, comprising 91% of total imports. The second position in the ranking was held by the United States ($X), with a 9.4% share of total imports.

From 2013 to 2022, the average annual growth rate of value from Free Zones amounted to -6.4%.

Import Prices by Country

The average casein glue and caseinates import price stood at $X per ton in 2022, declining by -7.4% against the previous year. Overall, the import price faced a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of 7%. The import price peaked at $X per ton in 2013; however, from 2014 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 Free Zones amounted to $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform