Panama: Fluorescent Brightening Agents Market 2024

Fluorescent Brightening Agents Market Size in Panama

In 2022, the Panamanian fluorescent brightening agents market decreased by -19.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a deep slump. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Fluorescent Brightening Agents Production in Panama

In value terms, fluorescent brightening agents production surged to $X in 2022 estimated in export price. Over the period under review, production showed a deep contraction. Fluorescent brightening agents production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Fluorescent Brightening Agents Exports

Exports from Panama

In 2022, shipments abroad of synthetic organic products used as fluorescent brightening agents increased by 3.9% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 828%. 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, fluorescent brightening agents exports amounted to $X in 2022. Over the period under review, exports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 1,108%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Venezuela (X tons), Colombia (X tons) and Trinidad and Tobago (X tons) were the main destinations of fluorescent brightening agents exports from Panama, together comprising 57% of total exports.

From 2012 to 2022, the biggest increases were recorded for Trinidad and Tobago (with a CAGR of +23.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Venezuela ($X), Colombia ($X) and Trinidad and Tobago ($X) constituted the largest markets for fluorescent brightening agents exported from Panama worldwide, with a combined 60% share of total exports. Germany, the United States, Honduras, Free Zones, Peru, Argentina and Brazil lagged somewhat behind, together comprising a further 32%.

In terms of the main countries of destination, Germany, with a CAGR of +11.5%, 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

The average fluorescent brightening agents export price stood at $X per ton in 2022, which is down by -3.5% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Honduras ($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 Argentina (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Fluorescent Brightening Agents Imports

Imports into Panama

For the fifth year in a row, Panama recorded decline in overseas purchases of synthetic organic products used as fluorescent brightening agents, which decreased by -60.4% to X tons in 2022. In general, imports recorded a sharp decline. The most prominent rate of growth was recorded in 2017 when imports increased by 18% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, fluorescent brightening agents imports shrank remarkably to $X in 2022. Overall, imports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Colombia (X tons) was the main supplier of fluorescent brightening agents to Panama, with a 97% share of total imports. Moreover, fluorescent brightening agents imports from Colombia exceeded the figures recorded by the second-largest supplier, Mexico (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Colombia stood at -20.6%.

In value terms, Colombia ($X) constituted the largest supplier of synthetic organic products used as fluorescent brightening agents to Panama, comprising 97% of total imports. The second position in the ranking was taken by Mexico ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Colombia stood at -9.1%.

Import Prices by Country

The average fluorescent brightening agents import price stood at $X per ton in 2022, with an increase of 22% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fluorescent brightening agents import price increased by +56.2% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 34%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Mexico stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+32.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform