Panama: Market for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings 2024

Market Size for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in Panama

The Panamanian market for flexible tubes, pipes and hoses of plastics, with fittings totaled $X in 2022, picking up by 1.6% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in Panama

In value terms, production of flexible tubes, pipes and hoses of plastics, with fittings expanded modestly to $X in 2022 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 -3.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 29% against the previous year. Over the period under review, production of reached the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Exports from Panama

In 2022, after two years of growth, there was significant decline in shipments abroad of flexible tubes, pipes and hoses of plastics, with fittings, when their volume decreased by -10.8% to X tons. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 121% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of flexible tubes, pipes and hoses of plastics, with fittings dropped to $X in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +4.7% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 76% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

The United States (X tons), Suriname (X tons) and Belize (X tons) were the main destinations of exports of flexible tubes, pipes and hoses of plastics, with fittings from Panama, with a combined 77% share of total exports. Barbados, Jamaica, Grenada and Guatemala lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for Barbados (with a CAGR of +79.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for flexible tubes, pipes and hoses of plastics, with fittings exports from Panama, comprising 59% of total exports. The second position in the ranking was held by Belize ($X), with a 14% share of total exports. It was followed by Suriname, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belize (+47.3% per year) and Suriname (+25.1% per year).

Export Prices by Country

The average export price for flexible tubes, pipes and hoses of plastics, with fittings stood at $X per ton in 2022, surging by 4.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Grenada ($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 Venezuela (+69.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Imports into Panama

Imports of flexible tubes, pipes and hoses of plastics, with fittings into Panama shrank sharply to X tons in 2022, reducing by -48.9% compared with the previous year's figure. In general, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 1,061%. Over the period under review, imports of reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of flexible tubes, pipes and hoses of plastics, with fittings shrank significantly to $X in 2022. Over the period under review, imports saw a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 2,351%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Mexico (X tons), China (X tons) and the United States (X tons) were the main suppliers of imports of flexible tubes, pipes and hoses of plastics, with fittings to Panama, with a combined 70% 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 Mexico (with a CAGR of +30.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), the United States ($X) and China ($X) appeared to be the largest flexible tubes, pipes and hoses of plastics, with fittings suppliers to Panama, together comprising 61% of total imports.

Among the main suppliers, Mexico, with a CAGR of +25.6%, recorded the highest growth rate of 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 import price for flexible tubes, pipes and hoses of plastics, with fittings amounted to $X per ton, with an increase of 28% against the previous year. Overall, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 an increase of 111%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform