Panama: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2024

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Panama

The Panamanian market for line pipe of steel other than stainless steel for oil or gas pipelines dropped to $X in 2022, falling by -8.6% against the previous year. Overall, consumption saw a deep setback. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Panama

In value terms, production of line pipe of steel other than stainless steel for oil or gas pipelines reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a deep slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports from Panama

In 2022, exports of line pipe of steel other than stainless steel for oil or gas pipelines from Panama skyrocketed to X tons, with an increase of 629% against the previous year's figure. Over the period under review, exports, however, showed a dramatic curtailment. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines surged to $X in 2022. Overall, exports, however, faced a sharp decline. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Trinidad and Tobago (X tons), Venezuela (X kg) and El Salvador (X kg) were the main destinations of exports of line pipe of steel other than stainless steel for oil or gas pipelines from Panama, with a combined 78% share of total exports. Chile, Colombia, Guatemala, Honduras, the Dominican Republic and Nicaragua lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +35.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Trinidad and Tobago ($X), Chile ($X) and Venezuela ($X) were the largest markets for line pipe of steel other than stainless steel for oil or gas pipelines exported from Panama worldwide, together comprising 76% of total exports.

Among the main countries of destination, Chile, with a CAGR of +25.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average export price for line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, reducing by -8.5% against the previous year. In general, the export price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 267% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to El Salvador ($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 the Dominican Republic (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports into Panama

In 2022, imports of line pipe of steel other than stainless steel for oil or gas pipelines into Panama soared to X tons, jumping by 17% compared with the previous year's figure. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 1,828%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines rose notably to $X in 2022. Overall, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,361%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Panama, with a 94% share of total imports. Moreover, imports of line pipe of steel other than stainless steel for oil or gas pipelines from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +141.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+101.2% per year) and the United States (-34.0% per year).

In value terms, China ($X) constituted the largest supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Panama, comprising 77% of total imports. The second position in the ranking was taken by South Korea ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +144.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+101.6% per year) and the United States (-30.0% per year).

Import Prices by Country

In 2022, the average import price for line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, falling by -7.1% against the previous year. Over the period under review, the import price recorded a perceptible descent. The growth pace was the most rapid in 2015 an increase of 40% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($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 (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform