Panama: Market for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride 2024

Market Size for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in Panama

The Panamanian market for rigid tubes, pipes and hoses of polymers of vinyl chloride reduced sharply to $X in 2022, which is down by -31.6% against the previous year. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +19.5% against 2020 indices. Vinyl chloride polymer rigid pipes consumption peaked at $X in 2021, and then fell significantly in the following year.

Production of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in Panama

In value terms, vinyl chloride polymer rigid pipes production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a deep downturn. The pace of growth was the most pronounced in 2016 with an increase of 125% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Exports from Panama

For the third consecutive year, Panama recorded growth in overseas shipments of rigid tubes, pipes and hoses of polymers of vinyl chloride, which increased by 179% to X tons in 2022. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 358%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, vinyl chloride polymer rigid pipes exports skyrocketed to $X in 2022. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 288%. The exports peaked at $X in 2016; afterwards, it flattened through to 2022.

Exports by Country

Bahamas (X tons), the United States (X tons) and Costa Rica (X tons) were the main destinations of vinyl chloride polymer rigid pipes exports from Panama, together accounting for 90% 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 +909.1%), while the other leaders experienced more modest paces of growth.

In value terms, Bahamas ($X), the United States ($X) and Costa Rica ($X) constituted the largest markets for vinyl chloride polymer rigid pipes exported from Panama worldwide, with a combined 91% share of total exports.

Among the main countries of destination, Bahamas, with a CAGR of +842.5%, saw 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 export price for rigid tubes, pipes and hoses of polymers of vinyl chloride amounted to $X per ton, shrinking by -11.4% against the previous year. Overall, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 an increase of 27%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Bahamas ($X per ton), while the average price for exports to Costa Rica ($X per ton) and Guatemala ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-4.6%), while the prices for the other major destinations experienced a decline.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Imports into Panama

In 2022, approx. X tons of rigid tubes, pipes and hoses of polymers of vinyl chloride were imported into Panama; dropping by -55.1% compared with the year before. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 2,920% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank dramatically in the following year.

In value terms, vinyl chloride polymer rigid pipes imports reduced markedly to $X in 2022. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 2,899%. Imports peaked at $X in 2021, and then declined significantly in the following year.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest supplier of vinyl chloride polymer rigid pipes to Panama, accounting for a 81% share of total imports. Moreover, vinyl chloride polymer rigid pipes imports from Costa Rica exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. The third position in this ranking was taken by Guatemala (X tons), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from Costa Rica amounted to +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+25.2% per year) and Guatemala (-11.7% per year).

In value terms, Costa Rica ($X) constituted the largest supplier of rigid tubes, pipes and hoses of polymers of vinyl chloride to Panama, comprising 79% of total imports. The second position in the ranking was taken by the United States ($X), with a 7.7% share of total imports. It was followed by Guatemala, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Costa Rica totaled +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+69.6% per year) and Guatemala (-10.1% per year).

Import Prices by Country

In 2022, the average import price for rigid tubes, pipes and hoses of polymers of vinyl chloride amounted to $X per ton, growing by 25% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 92% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform