Panama: Market for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber 2024

Market Size for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in Panama

The Panamanian solid vulcanised rubber sheet market soared to $X in 2022, increasing by 17% against the previous year. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 -1.0% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in Panama

In value terms, solid vulcanised rubber sheet production rose remarkably to $X in 2022 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 -8.0% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 47% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Exports from Panama

Solid vulcanised rubber sheet exports from Panama shrank to X tons in 2022, declining by -9.3% on the year before. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 94%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, solid vulcanised rubber sheet exports dropped dramatically to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 82%. 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

Venezuela (X tons) was the main destination for solid vulcanised rubber sheet exports from Panama, accounting for a 9.6% share of total exports. Moreover, solid vulcanised rubber sheet exports to Venezuela exceeded the volume sent to the second major destination, Trinidad and Tobago (X kg), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela amounted to +10.6%.

In value terms, Venezuela ($X) remains the key foreign market for plates, sheets, strips for floor covering of solid vulcanised rubber exports from Panama, comprising 19% of total exports. The second position in the ranking was held by Trinidad and Tobago ($X), with a 2.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Venezuela totaled +8.9%.

Export Prices by Country

In 2022, the average solid vulcanised rubber sheet export price amounted to $X per ton, dropping by -47.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 69%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Trinidad and Tobago amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Imports into Panama

In 2022, supplies from abroad of plates, sheets, strips for floor covering of solid vulcanised rubber increased by 162% to X tons, rising for the second consecutive year after three years of decline. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 426%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, solid vulcanised rubber sheet imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 545%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Guatemala (X tons), China (X tons) and Free Zones (X tons) were the main suppliers of solid vulcanised rubber sheet imports to Panama, with a combined 65% share of total imports. Colombia, the United States, Malaysia and Spain lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Free Zones ($X) and the United States ($X) constituted the largest solid vulcanised rubber sheet suppliers to Panama, together comprising 63% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +43.4%, 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 solid vulcanised rubber sheet import price amounted to $X per ton, with a decrease of -34.5% against the previous year. Overall, the import price continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 23% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Guatemala ($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 Arab Emirates (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform