Panama: Market for Other Plastic Tubes, Pipes and Hoses 2024

Market Size for Other Plastic Tubes, Pipes and Hoses in Panama

The Panamanian market for other plastic tubes, pipes and hoses amounted to $X in 2022, rising by 2.7% against the previous year. Over the period under review, consumption posted a buoyant increase. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Other Plastic Tubes, Pipes and Hoses in Panama

In value terms, production of other plastic tubes, pipes and hoses rose significantly to $X in 2022 estimated in export price. In general, production saw a prominent expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 63%. Production of peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Other Plastic Tubes, Pipes and Hoses

Exports from Panama

In 2022, the amount of other plastic tubes, pipes and hoses exported from Panama declined to X tons, which is down by -12.1% compared with the previous year. Overall, exports continue to indicate a sharp slump. The pace of growth was the most pronounced in 2014 when exports increased by 21% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of other plastic tubes, pipes and hoses declined to $X in 2022. In general, exports saw a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 40% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X tons), Suriname (X tons) and Dominica (X kg) were the main destinations of exports of other plastic tubes, pipes and hoses from Panama, together comprising 38% 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 Suriname (with a CAGR of +26.9%), while the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) remains the key foreign market for other plastic tubes, pipes and hoses exports from Panama, comprising 16% of total exports. The second position in the ranking was held by Guatemala ($X), with a 6.7% share of total exports. It was followed by Nicaragua, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Colombia amounted to -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+6.3% per year) and Nicaragua (-14.5% per year).

Export Prices by Country

In 2022, the average export price for other plastic tubes, pipes and hoses amounted to $X per ton, with an increase of 6.1% against the previous year. Over the period under review, the export price saw strong growth. The most prominent rate of growth was recorded in 2018 an increase of 68% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Dominica ($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 (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Plastic Tubes, Pipes and Hoses

Imports into Panama

Imports of other plastic tubes, pipes and hoses into Panama dropped remarkably to X tons in 2022, which is down by -21.4% on the previous year. In general, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 557% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of other plastic tubes, pipes and hoses shrank to $X in 2022. Overall, imports, however, recorded significant growth. The growth pace was the most rapid in 2017 when imports increased by 610% against the previous year. Over the period under review, imports of reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X tons), China (X tons) and Free Zones (X tons) were the main suppliers of imports of other plastic tubes, pipes and hoses to Panama, with a combined 59% share of total imports. The United States, Colombia, Germany, Poland and Costa Rica lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +82.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest other plastic tubes, pipes and hoses suppliers to Panama were the United States ($X), Mexico ($X) and China ($X), with a combined 65% share of total imports. Poland, Free Zones, Colombia, Germany and Costa Rica lagged somewhat behind, together accounting for a further 27%.

Germany, with a CAGR of +102.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for other plastic tubes, pipes and hoses stood at $X per ton in 2022, jumping by 22% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The growth pace was the most rapid in 2014 when the average import price increased by 29%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Poland ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform