Panama: Market for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators 2025

Market Size for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Panama

The Panamanian nickel and lithium accumulators market totaled $X in 2022, surging by 5.1% against the previous year. Overall, consumption continues to indicate resilient growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Panama

In value terms, nickel and lithium accumulators production amounted to $X in 2022 estimated in export price. Over the period under review, production saw prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 29% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Exports from Panama

In 2022, nickel and lithium accumulators exports from Panama reduced remarkably to X units, dropping by -44.9% against the year before. In general, exports recorded a abrupt decline. The growth pace was the most rapid in 2016 when exports increased by 579%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, nickel and lithium accumulators exports dropped dramatically to $X in 2022. Overall, exports showed a drastic downturn. The growth pace was the most rapid in 2016 when exports increased by 394% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Trinidad and Tobago (X units), Costa Rica (X units) and the United States (X units) were the main destinations of nickel and lithium accumulators exports from Panama, together accounting for 47% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Trinidad and Tobago (with a CAGR of +27.6%), while the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X), the Dominican Republic ($X) and Costa Rica ($X) appeared to be the largest markets for nickel and lithium accumulators exported from Panama worldwide, together accounting for 49% of total exports. Peru, Colombia, Suriname, Ecuador, Honduras, Trinidad and Tobago, the United States, Jamaica, Nicaragua and Chile lagged somewhat behind, together comprising a further 33%.

Suriname, with a CAGR of +17.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average nickel and lithium accumulators export price amounted to $X per unit, which is down by -8.5% against the previous year. Over the period under review, the export price, however, showed a slight increase. The growth pace was the most rapid in 2021 an increase of 83%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Cuba ($X per unit), while the average price for exports to Trinidad and Tobago ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Imports into Panama

In 2022, after two years of decline, there was significant growth in overseas purchases of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators, when their volume increased by 106% to X units. In general, imports showed modest growth. The pace of growth appeared the most rapid in 2017 when imports increased by 146%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, nickel and lithium accumulators imports surged to $X in 2022. Overall, imports showed a pronounced increase. The pace of growth appeared the most rapid in 2017 when imports increased by 137% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Hong Kong SAR (X units) were the main suppliers of nickel and lithium accumulators imports to Panama, together accounting for 88% of total imports. Free Zones, Japan and Germany lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +30.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators to Panama, comprising 63% of total imports. The second position in the ranking was taken by the United States ($X), with a 22% share of total imports. It was followed by Free Zones, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.4% per year) and Free Zones (+14.6% per year).

Import Prices by Country

The average nickel and lithium accumulators import price stood at $X per unit in 2022, dropping by -32.1% against the previous year. Over the period under review, the import price, however, posted a tangible expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 88% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform