Panama: Market for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides 2024

Market Size for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in Panama

The Panamanian high-tenacity filament nylon yarn market contracted modestly to $X in 2022, reducing by -4% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. 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 High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in Panama

In value terms, high-tenacity filament nylon yarn production shrank modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 42% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Exports from Panama

High-tenacity filament nylon yarn exports from Panama surged to X tons in 2022, increasing by 525% on the previous year. In general, exports, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2016 with an increase of 3,911% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, high-tenacity filament nylon yarn exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 when exports increased by 3,052% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for high-tenacity filament nylon yarn exports from Panama, with a 85% share of total exports. Moreover, high-tenacity filament nylon yarn exports to Chile exceeded the volume sent to the second major destination, Cuba (X kg), more than tenfold. Venezuela (X kg) ranked third in terms of total exports with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Chile stood at +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (-25.2% per year) and Venezuela (+0.5% per year).

In value terms, Chile ($X) remains the key foreign market for high-tenacity filament yarn of nylon or other polyamides exports from Panama, comprising 84% of total exports. The second position in the ranking was taken by Cuba ($X), with an 8.8% share of total exports. It was followed by El Salvador, with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile amounted to +25.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (-28.7% per year) and El Salvador (+41.4% per year).

Export Prices by Country

The average high-tenacity filament nylon yarn export price stood at $X per ton in 2022, picking up by 5.1% against the previous year. In general, the export price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Venezuela ($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 El Salvador (-1.7%), while the prices for the other major destinations experienced a decline.

Imports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Imports into Panama

In 2022, supplies from abroad of high-tenacity filament yarn of nylon or other polyamides increased by 52% to X tons, rising for the fourth consecutive year after two years of decline. Overall, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2016 with an increase of 175%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, high-tenacity filament nylon yarn imports reached $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 177%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of high-tenacity filament nylon yarn to Panama, accounting for a 99% share of total imports. It was followed by Free Zones (X kg), with a 0.3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +28.6%.

In value terms, China ($X) constituted the largest supplier of high-tenacity filament yarn of nylon or other polyamides to Panama, comprising 94% of total imports. The second position in the ranking was taken by Free Zones ($X), with a 1.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +8.9%.

Import Prices by Country

In 2022, the average high-tenacity filament nylon yarn import price amounted to $X per ton, falling by -31.3% against the previous year. Overall, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2013 when the average import price increased by 57%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform