Panama: Market for Plastics Pipes And Pipe Fittings 2025

Market Size for Plastics Pipes And Pipe Fittings in Panama

The Panamanian market for plastics pipes and pipe fittings fell to $X in 2022, declining by -13.1% against the previous year. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Plastics Pipes And Pipe Fittings in Panama

In value terms, plastics pipe and pipe fitting production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild decline. The growth pace was the most rapid in 2018 when the production volume increased by 62%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Plastics Pipes And Pipe Fittings

Exports from Panama

For the third year in a row, Panama recorded growth in overseas shipments of plastics pipes and pipe fittings, which increased by 89% to X tons in 2022. Overall, exports saw a prominent increase. The pace of growth was the most pronounced in 2020 when exports increased by 137%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastics pipe and pipe fitting exports soared to $X in 2022. Over the period under review, exports, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2016 with an increase of 112% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Bahamas (X tons), the United States (X tons) and Costa Rica (X tons) were the main destinations of plastics pipe and pipe fitting exports from Panama, together accounting for 85% 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 Bahamas (with a CAGR of +178.0%), while the other leaders experienced more modest paces of growth.

In value terms, Bahamas ($X), the United States ($X) and Costa Rica ($X) appeared to be the largest markets for plastics pipe and pipe fitting exported from Panama worldwide, with a combined 81% share of total exports.

In terms of the main countries of destination, Bahamas, with a CAGR of +139.0%, recorded the highest growth rate of 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 export price for plastics pipes and pipe fittings amounted to $X per ton, with a decrease of -29.4% against the previous year. Overall, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2015 an increase of 28%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Costa Rica ($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 (+4.8%), while the prices for the other major destinations experienced a decline.

Imports of Plastics Pipes And Pipe Fittings

Imports into Panama

Plastics pipe and pipe fitting imports into Panama declined remarkably to X tons in 2022, with a decrease of -43.9% against the previous year's figure. In general, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 2,363% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced notably in the following year.

In value terms, plastics pipe and pipe fitting imports dropped sharply to $X in 2022. Overall, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 1,899%. Imports peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest supplier of plastics pipe and pipe fitting to Panama, with a 51% share of total imports. Moreover, plastics pipe and pipe fitting imports from Costa Rica exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Costa Rica amounted to +145.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.6% per year) and the United States (+67.7% per year).

In value terms, Costa Rica ($X), the United States ($X) and China ($X) were the largest plastics pipe and pipe fitting suppliers to Panama, together accounting for 75% of total imports.

In terms of the main suppliers, Costa Rica, with a CAGR of +134.9%, recorded 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

In 2022, the average import price for plastics pipes and pipe fittings amounted to $X per ton, with an increase of 35% against the previous year. In general, the import price, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2015 when the average import price increased by 45% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 United States (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform