Panama: Metal Castor Mounting Market 2025

Metal Castor Mounting Market Size in Panama

The Panamanian metal castor mounting market declined to $X in 2022, falling by -9.8% against the previous year. Overall, consumption saw a deep contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Castor Mounting Production in Panama

In value terms, metal castor mounting production expanded modestly to $X in 2022 estimated in export price. In general, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.6% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 55%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Metal Castor Mounting Exports

Exports from Panama

Metal castor mounting exports from Panama was estimated at X tons in 2022, surging by 4.5% against the year before. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.5% against 2014 indices. The pace of growth appeared the most rapid in 2015 with an increase of 23% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, metal castor mounting exports expanded modestly to $X in 2022. Overall, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -13.2% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of 28%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Belize (X tons), Nicaragua (X tons) and the Dominican Republic (X tons) were the main destinations of metal castor mounting exports from Panama, together accounting for 40% of total exports. Honduras, Venezuela, Guatemala, Costa Rica, Colombia, Jamaica, Ecuador and Trinidad and Tobago lagged somewhat behind, together comprising a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +67.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal castor mounting exported from Panama were Nicaragua ($X), Honduras ($X) and Venezuela ($X), together accounting for 40% of total exports. Colombia, Costa Rica, Guatemala, the Dominican Republic, Ecuador, Belize, Trinidad and Tobago and Jamaica lagged somewhat behind, together comprising a further 44%.

In terms of the main countries of destination, Guatemala, with a CAGR of +59.4%, recorded the highest growth rate of the value of exports, 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 metal castor mounting export price amounted to $X per ton, declining by -2.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 26% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 Trinidad and Tobago ($X per ton), while the average price for exports to Belize ($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 Nicaragua (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Castor Mounting Imports

Imports into Panama

In 2022, the amount of castors with mountings of base metal imported into Panama dropped rapidly to X tons, which is down by -33.4% against 2021 figures. In general, imports faced a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 31%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, metal castor mounting imports fell significantly to $X in 2022. Over the period under review, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2017 with an increase of 101%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal castor mounting to Panama, with a 52% share of total imports. Moreover, metal castor mounting imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+49.1% per year) and the United States (-2.9% per year).

In value terms, China ($X), the United States ($X) and Chile ($X) appeared to be the largest metal castor mounting suppliers to Panama, together accounting for 66% of total imports. Free Zones, Spain and Taiwan (Chinese) lagged somewhat behind, together comprising a further 27%.

Free Zones, with a CAGR of +64.9%, recorded 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

In 2022, the average metal castor mounting import price amounted to $X per ton, with an increase of 8.3% against the previous year. In general, the import price continues to indicate resilient growth. The growth pace was the most rapid in 2017 an increase of 68% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 Taiwan (Chinese) (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform