Panama: Market for Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass 2024

Market Size for Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass in Panama

The Panamanian pigments, opacifiers and colours market shrank to $X in 2022, falling by -7.4% against the previous year. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -16.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass in Panama

In value terms, pigments, opacifiers and colours production dropped to $X in 2022 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -18.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 52%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass

Exports from Panama

Pigments, opacifiers and colours exports from Panama declined modestly to X tons in 2022, which is down by -2.6% on the previous year's figure. In general, exports saw a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 230% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, pigments, opacifiers and colours exports shrank slightly to $X in 2022. Over the period under review, exports saw a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 208% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons), Mexico (X tons) and Venezuela (X tons) were the main destinations of pigments, opacifiers and colours exports from Panama, with a combined 83% share of total exports. The United States, Honduras, Costa Rica, Trinidad and Tobago, Guatemala, Jamaica and the Dominican Republic lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Honduras (with a CAGR of +11.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pigments, opacifiers and colours exported from Panama were Colombia ($X), Mexico ($X) and Venezuela ($X), together accounting for 76% of total exports. The United States, Guatemala, Honduras, Costa Rica, Trinidad and Tobago, Jamaica and the Dominican Republic lagged somewhat behind, together comprising a further 18%.

Among the main countries of destination, Honduras, with a CAGR of +13.7%, recorded the highest rates of growth with regard to the value of exports, 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 pigments, opacifiers and colours export price amounted to $X per ton, waning by -1.6% against the previous year. Over the last decade, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2019 an increase of 27% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Honduras ($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 Guatemala (+28.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass

Imports into Panama

In 2022, supplies from abroad of pigments, opacifiers and colours for ceramics, enamelling or glass was finally on the rise to reach X tons after five years of decline. Over the period under review, imports, however, continue to indicate a precipitous curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 142% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, pigments, opacifiers and colours imports surged to $X in 2022. In general, imports, however, showed a dramatic curtailment. The pace of growth appeared the most rapid in 2014 when imports increased by 79% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X kg), Spain (X kg) and Italy (X kg) were the main suppliers of pigments, opacifiers and colours imports to Panama, together comprising 78% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +1.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest pigments, opacifiers and colours suppliers to Panama were the United States ($X), Italy ($X) and Mexico ($X), with a combined 84% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of -0.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average pigments, opacifiers and colours import price amounted to $X per ton, jumping by 27% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 42% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 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 ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+131.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform