Panama: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Panama

The Panamanian glass fibre and article market totaled $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Glass Fibres and Glass Fibre Articles in Panama

In value terms, glass fibre and article production expanded sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Panama

Glass fibre and article exports from Panama surged to X tons in 2022, increasing by X% compared with 2021. Overall, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, glass fibre and article exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a deep slump. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Costa Rica (X tons) and Colombia (X tons) were the main destinations of glass fibre and article exports from Panama, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Colombia ($X) emerged as the key foreign market for glass fibres and glass fibre articles exports from Panama, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Costa Rica, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Costa Rica (X% per year).

Export Prices by Country

In 2022, the average glass fibre and article export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then declined dramatically 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 Colombia ($X per ton), while the average price for exports to Trinidad and Tobago ($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 Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Panama

In 2022, imports of glass fibres and glass fibre articles into Panama was estimated at X tons, surging by X% on the previous year. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, glass fibre and article imports surged to $X in 2022. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre and article supplier to Panama, accounting for a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Colombia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Colombia (X% per year).

In value terms, the largest glass fibre and article suppliers to Panama were the United States ($X), China ($X) and Mexico ($X), with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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 glass fibre and article import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. The import price peaked at $X per ton in 2015; however, from 2016 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 Mexico ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform