Panama: Non-Cellular Polystyrene Film Market 2024

Non-Cellular Polystyrene Film Market Size in Panama

The Panamanian non-cellular polystyrene film market plummeted to $X in 2022, dropping by -34.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded prominent growth. Non-cellular polystyrene film consumption peaked at $X in 2021, and then shrank remarkably in the following year.

Non-Cellular Polystyrene Film Exports

Exports from Panama

After two years of growth, overseas shipments of non-cellular polystyrene films, sheets, foil and strip decreased by -12.9% to X tons in 2022. Over the period under review, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 601%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-cellular polystyrene film exports shrank to $X in 2022. In general, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2014 when exports increased by 416%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X tons), Jamaica (X tons) and Trinidad and Tobago (X tons) were the main destinations of non-cellular polystyrene film exports from Panama, together accounting for 80% of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +66.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Jamaica ($X), Guatemala ($X) and Trinidad and Tobago ($X) constituted the largest markets for non-cellular polystyrene film exported from Panama worldwide, with a combined 73% share of total exports. Venezuela, the United States and the Dominican Republic lagged somewhat behind, together accounting for a further 10%.

The Dominican Republic, with a CAGR of +47.7%, recorded the highest growth rate of the value of exports, among 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 non-cellular polystyrene film export price amounted to $X per ton, rising by 3.7% against the previous year. In general, the export price, however, saw a deep slump. The pace of growth was the most pronounced in 2018 when the average export price increased by 28% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to Guatemala ($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 Trinidad and Tobago (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cellular Polystyrene Film Imports

Imports into Panama

In 2022, non-cellular polystyrene film imports into Panama shrank sharply to X tons, falling by -32.5% against 2021. Over the period under review, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 1,004% against the previous year. Imports peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, non-cellular polystyrene film imports dropped dramatically to $X in 2022. Overall, imports, however, posted strong growth. The pace of growth was the most pronounced in 2016 when imports increased by 1,102%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell significantly in the following year.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest supplier of non-cellular polystyrene film to Panama, with a 39% share of total imports. Moreover, non-cellular polystyrene film imports from Costa Rica exceeded the figures recorded by the second-largest supplier, Chile (X tons), twofold. The third position in this ranking was taken by Guatemala (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Costa Rica stood at +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+1.2% per year) and Guatemala (+62.5% per year).

In value terms, Costa Rica ($X), Guatemala ($X) and Chile ($X) appeared to be the largest non-cellular polystyrene film suppliers to Panama, together comprising 68% of total imports.

In terms of the main suppliers, Guatemala, with a CAGR of +63.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-cellular polystyrene film import price stood at $X per ton in 2022, falling by -2.7% against the previous year. Over the period under review, the import price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Guatemala ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+0.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform