Panama: Cement Clinker Market 2024

Cement Clinker Market Size in Panama

In 2022, the Panamanian cement clinker market decreased by -8.9% to $X for the first time since 2014, thus ending a seven-year rising trend. In general, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.5% against 2014 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Cement Clinker Production in Panama

In value terms, cement clinker production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, posted perceptible growth. The most prominent rate of growth was recorded in 2021 with an increase of 42%. As a result, production reached the peak level of $X, and then reduced in the following year.

Cement Clinker Exports

Exports from Panama

In 2022, after ten years of growth, there was significant decline in overseas shipments of cement clinker, when their volume decreased by -10.4% to X tons. Over the period under review, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 125%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, cement clinker exports declined notably to $X in 2022. Overall, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 173%. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

Guatemala (X tons), Nicaragua (X tons) and Costa Rica (X tons) were the main destinations of cement clinker exports from Panama.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +45.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cement clinker exported from Panama were Nicaragua ($X), Guatemala ($X) and Costa Rica ($X).

In terms of the main countries of destination, Costa Rica, with a CAGR of +32.5%, saw 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 cement clinker export price amounted to $X per ton, waning by -6.9% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cement clinker export price increased by +75.7% against 2018 indices. The growth pace was the most rapid in 2019 an increase of 38%. The export price peaked at $X per ton in 2021, and then fell in the following year.

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 Nicaragua ($X per ton), while the average price for exports to Guatemala ($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 France (+60.1%), while the prices for the other major destinations experienced mixed trend patterns.

Cement Clinker Imports

Imports into Panama

Cement clinker imports into Panama surged to X tons in 2022, rising by 109% on 2021. In general, imports posted a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 194% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cement clinker imports soared to $X in 2022. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 211% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons) and Algeria (X tons) were the main suppliers of cement clinker imports to Panama.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +18.7%).

In value terms, the largest cement clinker suppliers to Panama were Turkey ($X) and Algeria ($X).

Turkey, with a CAGR of +28.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average cement clinker import price amounted to $X per ton, surging by 19% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cement clinker import price decreased by -3.0% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Algeria ($X per ton), while the price for Turkey totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+11.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform