Panama: Market for Prepared Additives For Cements, Mortars Or Concretes 2024

Market Size for Prepared Additives For Cements, Mortars Or Concretes in Panama

In 2022, the Panamanian prepared additives for cements market increased by 8.9% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a perceptible contraction. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Prepared Additives For Cements, Mortars Or Concretes in Panama

In value terms, prepared additives for cements production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2018 with an increase of 51% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Prepared Additives For Cements, Mortars Or Concretes

Exports from Panama

In 2022, overseas shipments of prepared additives for cements, mortars or concretes decreased by -2.4% to X tons, falling for the third consecutive year after two years of growth. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 384% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, prepared additives for cements exports totaled $X in 2022. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 190%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Honduras (X tons), Costa Rica (X tons) and Nicaragua (X tons) were the main destinations of prepared additives for cements exports from Panama, with a combined 89% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +143.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared additives for cements exported from Panama were Honduras ($X), Costa Rica ($X) and Nicaragua ($X), with a combined 87% share of total exports.

Honduras, with a CAGR of +126.4%, recorded the highest growth rate of the value of exports, among the main countries of destination 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 prepared additives for cements export price amounted to $X per ton, with an increase of 14% against the previous year. In general, the export price, however, saw a deep downturn. The growth pace was the most rapid in 2015 an increase of 45% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average 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 El Salvador ($X per ton), while the average price for exports to Costa Rica ($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 Dominica (+0.8%), while the prices for the other major destinations experienced a decline.

Imports of Prepared Additives For Cements, Mortars Or Concretes

Imports into Panama

In 2022, overseas purchases of prepared additives for cements, mortars or concretes increased by 9.7% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 5,726%. 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, prepared additives for cements imports surged to $X in 2022. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 4,419%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Free Zones (X tons) constituted the largest prepared additives for cements supplier to Panama, with a 70% share of total imports. Moreover, prepared additives for cements imports from Free Zones exceeded the figures recorded by the second-largest supplier, Colombia (X tons), sixfold. The third position in this ranking was taken by Spain (X tons), with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Free Zones stood at -11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+66.1% per year) and Spain (+103.7% per year).

In value terms, Free Zones ($X) constituted the largest supplier of prepared additives for cements, mortars or concretes to Panama, comprising 71% of total imports. The second position in the ranking was held by Spain ($X), with a 7.3% share of total imports. It was followed by Colombia, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from Free Zones stood at -12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+88.0% per year) and Colombia (+73.5% per year).

Import Prices by Country

In 2022, the average prepared additives for cements import price amounted to $X per ton, growing by 5.4% against the previous year. In general, the import price, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2014 an increase of 40%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Colombia ($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 (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform