Panama: Market for Non-Refractory Clay Constructional Products 2024

Market Size for Non-Refractory Clay Constructional Products in Panama

In 2022, the Panamanian non-refractory clay constructional products market increased by 423% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption continues to indicate buoyant growth. Non-refractory clay constructional products consumption peaked in 2022 and is likely to see gradual growth in the near future.

Exports of Non-Refractory Clay Constructional Products

Exports from Panama

In 2022, shipments abroad of non-refractory clay constructional products increased by 12% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports posted a significant increase. The growth pace was the most rapid in 2019 when exports increased by 228% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-refractory clay constructional products exports expanded remarkably to $X in 2022. In general, exports recorded a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 148% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cuba (X tons) was the main destination for non-refractory clay constructional products exports from Panama, accounting for a 69% share of total exports. Moreover, non-refractory clay constructional products exports to Cuba exceeded the volume sent to the second major destination, the Dominican Republic (X kg), threefold. The third position in this ranking was held by Colombia (X kg), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cuba totaled +102.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+52.3% per year) and Colombia (+14.1% per year).

In value terms, Cuba ($X) remains the key foreign market for non-refractory clay constructional products exports from Panama, comprising 81% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 10% share of total exports. It was followed by Colombia, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value to Cuba totaled +69.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+22.5% per year) and Colombia (-2.6% per year).

Export Prices by Country

In 2022, the average non-refractory clay constructional products export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price recorded a deep downturn. The most prominent rate of growth was recorded in 2016 an increase of 124% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 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 Cuba ($X per ton), while the average price for exports to the Dominican Republic ($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 Colombia (-14.6%), while the prices for the other major destinations experienced a decline.

Imports of Non-Refractory Clay Constructional Products

Imports into Panama

In 2022, purchases abroad of non-refractory clay constructional products increased by 509% to X tons, rising for the second year in a row after three years of decline. Overall, imports posted a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 2,964% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, non-refractory clay constructional products imports soared to $X in 2022. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 3,117% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of non-refractory clay constructional products to Panama, accounting for a 73% share of total imports. Moreover, non-refractory clay constructional products imports from Spain exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), fourfold. The third position in this ranking was taken by Mexico (X tons), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled +50.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+41.1% per year) and Mexico (+32.4% per year).

In value terms, Spain ($X) constituted the largest supplier of non-refractory clay constructional products to Panama, comprising 81% of total imports. The second position in the ranking was taken by Free Zones ($X), with a 12% share of total imports. It was followed by Mexico, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled +45.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+62.0% per year) and Mexico (+30.0% per year).

Import Prices by Country

In 2022, the average non-refractory clay constructional products import price amounted to $X per ton, declining by -22.5% against the previous year. Over the period under review, the import price recorded a noticeable decline. The growth pace was the most rapid in 2018 an increase of 14% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood 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 Colombia ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+14.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform