Panama: Plastic Supports Market 2024

Plastic Supports Market Size in Panama

The Panamanian plastic supports market reached $X in 2022, surging by 2% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.8% against 2020 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Plastic Supports Production in Panama

In value terms, plastic supports production stood at $X in 2022 estimated in export price. In general, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.5% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 41% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Plastic Supports Exports

Exports from Panama

In 2022, after two years of growth, there was significant decline in overseas shipments of spools, cops, bobbins and similar supports of plastics, when their volume decreased by -21.3% to X tons. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 315% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, plastic supports exports contracted dramatically to $X in 2022. Overall, exports, however, posted a mild increase. The pace of growth appeared the most rapid in 2018 when exports increased by 337%. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted sharply in the following year.

Exports by Country

The Dominican Republic (X tons) was the main destination for plastic supports exports from Panama, with a 49% share of total exports. Moreover, plastic supports exports to the Dominican Republic exceeded the volume sent to the second major destination, Nicaragua (X tons), threefold. The third position in this ranking was taken by Barbados (X kg), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to the Dominican Republic stood at +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+8.6% per year) and Barbados (+4.2% per year).

In value terms, the Dominican Republic ($X), Nicaragua ($X) and Barbados ($X) appeared to be the largest markets for plastic supports exported from Panama worldwide, with a combined 40% share of total exports.

Among the main countries of destination, Barbados, with a CAGR of +37.5%, recorded the highest growth rate of 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 plastic supports export price amounted to $X per ton, declining by -16.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 98%. 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 somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to the Dominican Republic ($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 Barbados (+32.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Supports Imports

Imports into Panama

In 2022, supplies from abroad of spools, cops, bobbins and similar supports of plastics decreased by -33.8% to X tons, falling for the second consecutive year after five years of growth. In general, imports, however, continue to indicate tangible growth. The most prominent rate of growth was recorded in 2017 when imports increased by 359% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic supports imports declined dramatically to $X in 2022. Overall, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 309%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell remarkably in the following year.

Imports by Country

Mexico (X tons), China (X tons) and Australia (X tons) were the main suppliers of plastic supports imports to Panama, with a combined 92% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +41.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic supports suppliers to Panama were Australia ($X), Mexico ($X) and China ($X), together accounting for 91% of total imports.

China, with a CAGR of +39.3%, recorded the highest growth rate of 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

The average plastic supports import price stood at $X per ton in 2022, rising by 21% against the previous year. In general, the import price posted a notable expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 25%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Australia ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform