Panama: Market for Non-Refractory Clay Roofing Tiles 2024

Market Size for Non-Refractory Clay Roofing Tiles in Panama

The Panamanian non-refractory clay roofing tiles market fell slightly to $X in 2022, with a decrease of -1.8% against the previous year. Overall, consumption, however, continues to indicate a mild shrinkage. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Non-Refractory Clay Roofing Tiles in Panama

In value terms, non-refractory clay roofing tiles production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2018 when the production volume increased by 37% against the previous year. Non-refractory clay roofing tiles production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Non-Refractory Clay Roofing Tiles

Exports from Panama

After three years of decline, overseas shipments of non-refractory clay roofing tiles increased by 529% to X tons in 2022. Over the period under review, exports showed significant growth. The growth pace was the most rapid in 2015 with an increase of 1,640%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-refractory clay roofing tiles exports skyrocketed to $X in 2022. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 798% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for non-refractory clay roofing tiles exports from Panama, accounting for a 85% share of total exports. Moreover, non-refractory clay roofing tiles exports to the Dominican Republic exceeded the volume sent to the second major destination, Colombia (X tons), tenfold. The United States (X tons) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume to the Dominican Republic stood at +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+41.4% per year) and the United States (+52.5% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for non-refractory clay roofing tiles exports from Panama, comprising 74% of total exports. The second position in the ranking was held by Colombia ($X), with a 23% share of total exports. It was followed by Jamaica, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Dominican Republic amounted to +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+27.6% per year) and Jamaica (+32.2% per year).

Export Prices by Country

The average non-refractory clay roofing tiles export price stood at $X per ton in 2022, flattening at the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 85%. The export price peaked at $X per ton 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to the United States ($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 (-0.4%), while the prices for the other major destinations experienced a decline.

Imports of Non-Refractory Clay Roofing Tiles

Imports into Panama

In 2022, approx. X tons of non-refractory clay roofing tiles were imported into Panama; with an increase of 36% on 2021. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 3,028% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-refractory clay roofing tiles imports skyrocketed to $X in 2022. In general, imports enjoyed significant growth. The growth pace was the most rapid in 2017 when imports increased by 1,876% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of non-refractory clay roofing tiles to Panama, accounting for a 83% share of total imports. Moreover, non-refractory clay roofing tiles imports from Spain exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold. El Salvador (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +102.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+66.2% per year) and El Salvador (+85.5% per year).

In value terms, Spain ($X) constituted the largest supplier of non-refractory clay roofing tiles to Panama, comprising 89% of total imports. The second position in the ranking was taken by Mexico ($X), with a 4.1% share of total imports. It was followed by El Salvador, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +116.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+69.0% per year) and El Salvador (+93.4% per year).

Import Prices by Country

The average non-refractory clay roofing tiles import price stood at $X per ton in 2022, growing by 60% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-refractory clay roofing tiles import price increased by +92.5% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform