Panama: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in Panama

The Panamanian saturated acyclic monocarboxylic acids market was estimated at $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Saturated Acyclic Monocarboxylic Acids in Panama

In value terms, saturated acyclic monocarboxylic acids production shrank to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports from Panama

In 2022, shipments abroad of saturated acyclic monocarboxylic acids was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, saturated acyclic monocarboxylic acids exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Costa Rica (X tons) was the main destination for saturated acyclic monocarboxylic acids exports from Panama, accounting for a X% share of total exports. Moreover, saturated acyclic monocarboxylic acids exports to Costa Rica exceeded the volume sent to the second major destination, the Dominican Republic (X tons), fourfold. The third position in this ranking was taken by Guatemala (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Costa Rica totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and Guatemala (X% per year).

In value terms, Costa Rica ($X) emerged as the key foreign market for saturated acyclic monocarboxylic acids exports from Panama, comprising X% of total exports. The second position in the ranking was held by Guatemala ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Costa Rica totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2022, the average saturated acyclic monocarboxylic acids export price amounted to $X per ton, jumping by X% against the previous year. Overall, the export price, however, saw a deep slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Trinidad and Tobago ($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 Suriname (X%), while the prices for the other major destinations experienced a decline.

Imports of Saturated Acyclic Monocarboxylic Acids

Imports into Panama

In 2022, saturated acyclic monocarboxylic acids imports into Panama declined to X tons, dropping by X% against the previous year's figure. Over the period under review, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, saturated acyclic monocarboxylic acids imports declined to $X in 2022. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Colombia (X tons) and Mexico (X tons) were the main suppliers of saturated acyclic monocarboxylic acids imports to Panama, together accounting for X% of total imports. The United States, Free Zones and Canada lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest saturated acyclic monocarboxylic acids suppliers to Panama were Colombia ($X), the United States ($X) and China ($X), together comprising X% of total imports. Mexico, Free Zones and Canada lagged somewhat behind, together accounting for a further X%.

Free Zones, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 saturated acyclic monocarboxylic acids import price amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, saw a perceptible setback. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 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 the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform