Panama: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Panama

The Panamanian salts of acetic acid market contracted to $X in 2022, which is down by -6.9% against the previous year. Overall, consumption saw a perceptible downturn. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Salts Of Acetic Acid in Panama

In value terms, salts of acetic acid production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by 23%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Salts Of Acetic Acid

Exports from Panama

For the fifth year in a row, Panama recorded decline in overseas shipments of salts of acetic acid, which decreased by -17.4% to X kg in 2022. In general, exports continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2017 with an increase of 310%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, salts of acetic acid exports reduced sharply to $X in 2022. Over the period under review, exports showed a significant decline. The most prominent rate of growth was recorded in 2017 with an increase of 134%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X kg) was the main destination for salts of acetic acid exports from Panama, with a 89% share of total exports. Moreover, salts of acetic acid exports to Guatemala exceeded the volume sent to the second major destination, Colombia (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Guatemala stood at -24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-59.3% per year) and Costa Rica (-14.9% per year).

In value terms, Guatemala ($X) remains the key foreign market for salts of acetic acid exports from Panama, comprising 94% of total exports. The second position in the ranking was taken by Colombia ($X), with a 2.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Guatemala stood at -35.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-65.3% per year) and Costa Rica (-25.9% per year).

Export Prices by Country

In 2022, the average salts of acetic acid export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price saw a deep setback. The most prominent rate of growth was recorded in 2014 an increase of 19% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 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 Guatemala ($X per ton), while the average price for exports to Costa Rica ($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 Honduras (+3.7%), while the prices for the other major destinations experienced a decline.

Imports of Salts Of Acetic Acid

Imports into Panama

Salts of acetic acid imports into Panama shrank dramatically to X tons in 2022, which is down by -74.7% on the year before. In general, imports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2016 when imports increased by 374%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, salts of acetic acid imports soared to $X in 2022. Overall, imports, however, recorded a tangible increase. The most prominent rate of growth was recorded in 2016 with an increase of 364% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Free Zones (X kg), the United States (X kg) and Germany (X kg) were the main suppliers of salts of acetic acid imports to Panama, together comprising 92% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +62.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest salts of acetic acid suppliers to Panama were Free Zones ($X), the United States ($X) and Germany ($X), with a combined 93% share of total imports.

In terms of the main suppliers, Free Zones, with a CAGR of +59.6%, saw 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 salts of acetic acid import price amounted to $X per ton, picking up by 636% against the previous year. In general, the import price continues to indicate a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+10.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform