Panama: Asphalted Paper Market 2024

Asphalted Paper Market Size in Panama

The Panamanian asphalted paper market fell rapidly to $X in 2022, with a decrease of -19.7% against the previous year. Over the period under review, consumption continues to indicate a deep reduction. Asphalted paper consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Asphalted Paper Production in Panama

In value terms, asphalted paper production amounted to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 11,047,400% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Asphalted Paper Exports

Exports from Panama

In 2022, exports of tarred, bituminised or asphalted paper and paperboard from Panama surged to X tons, rising by 224% against 2021. Overall, exports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 438%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, asphalted paper exports skyrocketed to $X in 2022. In general, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 436%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Venezuela (X tons), Trinidad and Tobago (X kg) and Costa Rica (X kg) were the main destinations of asphalted paper exports from Panama, together comprising 45% of total exports. Cuba, Curacao, Jamaica, Belize, Nicaragua, the United States, Colombia, the Dominican Republic, Honduras and Guyana lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the biggest increases were recorded for Curacao (with a CAGR of +34.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for asphalted paper exported from Panama were Costa Rica ($X), Venezuela ($X) and Trinidad and Tobago ($X), with a combined 43% share of total exports. Curacao, Belize, Honduras, Nicaragua, Cuba, Jamaica, the Dominican Republic, the United States, Guyana and Colombia lagged somewhat behind, together comprising a further 33%.

In terms of the main countries of destination, Curacao, with a CAGR of +19.7%, 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

The average asphalted paper export price stood at $X per ton in 2022, shrinking by -34.5% against the previous year. Over the period under review, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 41% against the previous year. 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 Honduras ($X per ton), while the average price for exports to Cuba ($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 (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Asphalted Paper Imports

Imports into Panama

Asphalted paper imports into Panama reduced rapidly to X tons in 2022, waning by -35.9% on the previous year's figure. Overall, imports recorded a deep downturn. The growth pace was the most rapid in 2018 with an increase of 221% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, asphalted paper imports expanded sharply to $X in 2022. In general, imports showed a abrupt slump. The pace of growth was the most pronounced in 2020 when imports increased by 183%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of asphalted paper to Panama, accounting for a 75% share of total imports. Moreover, asphalted paper imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. The third position in this ranking was taken by South Korea (X tons), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+78.5% per year) and South Korea (+6.9% per year).

In value terms, the United States ($X) constituted the largest supplier of tarred, bituminised or asphalted paper and paperboard to Panama, comprising 85% of total imports. The second position in the ranking was taken by Spain ($X), with a 7.7% share of total imports. It was followed by South Korea, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+74.3% per year) and South Korea (+4.3% per year).

Import Prices by Country

In 2022, the average asphalted paper import price amounted to $X per ton, jumping by 78% against the previous year. Over the period under review, the import price showed resilient growth. The growth pace was the most rapid in 2013 an increase of 133% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 China (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform