Panama: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Panama

The Panamanian reaction initiators and accelerators market stood at $X in 2022, surging by 12% against the previous year. In general, consumption enjoyed a significant expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Panama

In value terms, reaction initiators and accelerators production expanded rapidly to $X in 2022 estimated in export price. In general, production continues to indicate a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 131%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from Panama

In 2022, reaction initiators and accelerators exports from Panama contracted significantly to X tons, waning by -35.3% compared with 2021 figures. In general, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 67% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, reaction initiators and accelerators exports contracted significantly to $X in 2022. Overall, exports, however, recorded a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by 149% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Venezuela (X tons), Colombia (X kg) and Cuba (X kg) were the main destinations of reaction initiators and accelerators exports from Panama, together comprising 47% of total exports. The Dominican Republic, the United States, Chile, Nicaragua, Paraguay, Ecuador, Costa Rica, Guatemala and Peru lagged somewhat behind, together accounting for a further 51%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +48.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for reaction initiators, reaction accelerators and catalytic preparations exports from Panama, comprising 37% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 16% share of total exports. It was followed by Chile, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +69.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+62.7% per year) and Chile (+15.4% per year).

Export Prices by Country

In 2022, the average reaction initiators and accelerators export price amounted to $X per ton, shrinking by -9.6% against the previous year. Overall, the export price, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 an increase of 142%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Colombia ($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 Paraguay (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into Panama

In 2022, purchases abroad of reaction initiators, reaction accelerators and catalytic preparations decreased by -5.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 509% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, reaction initiators and accelerators imports skyrocketed to $X in 2022. In general, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 557% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Free Zones (X tons), Colombia (X tons) and the United States (X tons) were the main suppliers of reaction initiators and accelerators imports to Panama, together accounting for 49% of total imports. China, Mexico, El Salvador, Germany, Peru, Costa Rica and Hong Kong SAR lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +122.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Free Zones ($X) and Colombia ($X) constituted the largest reaction initiators and accelerators suppliers to Panama, with a combined 57% share of total imports. El Salvador, Mexico, China, Germany, Peru, Costa Rica and Hong Kong SAR lagged somewhat behind, together comprising a further 36%.

Peru, with a CAGR of +120.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 reaction initiators and accelerators import price amounted to $X per ton, growing by 23% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the average import price increased by 60%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Costa Rica ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform