Report Update Nov 1, 2024

Panama - Methanal (Formaldehyde) - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Formaldehyde Market 2024

Formaldehyde Market Size in Panama

The Panamanian formaldehyde market fell to $X in 2022, standing approx. at the previous year. Overall, consumption showed a noticeable downturn. Formaldehyde consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Formaldehyde Production in Panama

In value terms, formaldehyde production contracted modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible decrease. The growth pace was the most rapid in 2018 when the production volume increased by 24%. Formaldehyde production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Formaldehyde Exports

Exports from Panama

In 2022, approx. X tons of formaldehyde were exported from Panama; leveling off at the year before. Overall, exports showed significant growth. The smallest decline of 99.9% was in 2021. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, formaldehyde exports stood at $X in 2022. Over the period under review, exports enjoyed a strong expansion. The smallest decline of 99.9% was in 2021. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The Dominican Republic (X tons) was the main destination for formaldehyde exports from Panama, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the Dominican Republic totaled +19.9%.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic amounted to +18.0%.

Export Prices by Country

In 2022, the average formaldehyde export price amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price recorded a abrupt setback. The pace of growth appeared the most rapid in 2021 when the average export price decreased by 99.9%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the Dominican Republic.

From 2012 to 2022, the rate of growth in terms of prices for the Dominican Republic amounted to -1.6% per year.

Formaldehyde Imports

Imports into Panama

In 2022, overseas purchases of formaldehyde increased by 0.9% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports showed a significant increase. The growth pace was the most rapid in 2019 when imports increased by 230% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, formaldehyde imports skyrocketed to $X in 2022. Overall, imports recorded a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 206%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest formaldehyde supplier to Panama, accounting for a 88% share of total imports. Moreover, formaldehyde imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), tenfold.

From 2017 to 2022, the average annual growth rate of volume from Belgium totaled +151.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+7.6% per year) and Germany (+94.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of formaldehyde to Panama, comprising 83% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 9% share of total imports.

From 2017 to 2022, the average annual growth rate of value from Belgium totaled +164.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+15.7% per year) and Germany (+42.4% per year).

Import Prices by Country

In 2022, the average formaldehyde import price amounted to $X per ton, picking up by 31% against the previous year. Over the last five years, it increased at an average annual rate of +4.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

This report provides an in-depth analysis of the formaldehyde market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20146111 - Methanal (formaldehyde)

Country coverage:

Panama

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Panama
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023