Panama: Hydrogen Peroxide Market 2024

Hydrogen Peroxide Market Size in Panama

The Panamanian hydrogen peroxide market rose slightly to $X in 2022, picking up by 4.1% against the previous year. Overall, consumption continues to indicate buoyant growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Hydrogen Peroxide Production in Panama

In value terms, hydrogen peroxide production rose sharply to $X in 2022 estimated in export price. In general, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 30% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Hydrogen Peroxide Exports

Exports from Panama

In 2022, shipments abroad of hydrogen peroxide was finally on the rise to reach X tons for the first time since 2015, thus ending a six-year declining trend. Overall, exports showed a measured expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 2,721% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, hydrogen peroxide exports amounted to $X in 2022. Over the period under review, exports recorded a moderate expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,021% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X kg) was the main destination for hydrogen peroxide exports from Panama, accounting for a 58% share of total exports. Moreover, hydrogen peroxide exports to Ecuador exceeded the volume sent to the second major destination, Guatemala (X kg), threefold. The third position in this ranking was held by Cuba (X kg), with a 9% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador amounted to +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+30.6% per year) and Cuba (+7.9% per year).

In value terms, Guatemala ($X) remains the key foreign market for hydrogen peroxide exports from Panama, comprising 78% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 15% share of total exports. It was followed by Costa Rica, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala stood at +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+5.3% per year) and Costa Rica (-18.9% per year).

Export Prices by Country

In 2022, the average hydrogen peroxide export price amounted to $X per ton, falling by -19% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 444% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Cuba ($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 Jamaica (+18.0%), while the prices for the other major destinations experienced a decline.

Hydrogen Peroxide Imports

Imports into Panama

Hydrogen peroxide imports into Panama declined sharply to X tons in 2022, reducing by -58.4% compared with 2021. Over the period under review, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 333%. As a result, imports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, hydrogen peroxide imports declined significantly to $X in 2022. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 301%. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

Brazil (X tons), South Korea (X tons) and Italy (X tons) were the main suppliers of hydrogen peroxide imports to Panama, together accounting for 82% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +147.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of hydrogen peroxide to Panama, comprising 42% of total imports. The second position in the ranking was taken by Free Zones ($X), with a 19% share of total imports. It was followed by South Korea, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +53.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+154.9% per year) and South Korea (+46.8% per year).

Import Prices by Country

In 2022, the average hydrogen peroxide import price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price recorded a deep setback. The pace of growth appeared the most rapid in 2015 an increase of 46% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained 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 Spain ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+29.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform