Panama: Concrete Tile Market 2024

Concrete Tile Market Size in Panama

The Panamanian concrete tile market fell to $X in 2022, waning by -5.6% against the previous year. In general, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.4% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Concrete Tile Production in Panama

In value terms, concrete tile production declined to $X in 2022 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.1% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 54%. Concrete tile production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Concrete Tile Exports

Exports from Panama

In 2022, approx. X tons of tiles, flagstones, bricks and similar articles, of cement, concrete or artificial stone were exported from Panama; jumping by 48% on 2021 figures. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 492% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, concrete tile exports surged to $X in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 466%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X tons), Jamaica (X tons) and Ecuador (X tons) were the main destinations of concrete tile exports from Panama, together comprising 35% of total exports. Guatemala, Barbados, Nicaragua, Colombia and El Salvador lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +150.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for concrete tile exported from Panama were Jamaica ($X), Ecuador ($X) and Barbados ($X), together comprising 35% of total exports.

Ecuador, with a CAGR of +87.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average concrete tile export price stood at $X per ton in 2022, which is down by -19.3% against the previous year. Over the period under review, the export price, however, showed mild growth. The most prominent rate of growth was recorded in 2015 an increase of 74%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Nicaragua ($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 Colombia (+0.5%), while the prices for the other major destinations experienced mixed trend patterns.

Concrete Tile Imports

Imports into Panama

In 2022, supplies from abroad of tiles, flagstones, bricks and similar articles, of cement, concrete or artificial stone increased by 30% to X tons, rising for the second year in a row after three years of decline. Overall, imports saw a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 5,487%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, concrete tile imports skyrocketed to $X in 2022. Over the period under review, imports posted prominent growth. The pace of growth was the most pronounced in 2017 when imports increased by 3,103% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Spain (X tons) and Mexico (X tons) were the main suppliers of concrete tile imports to Panama, with a combined 83% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +140.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Spain ($X) and Nicaragua ($X) constituted the largest concrete tile suppliers to Panama, together accounting for 81% of total imports.

Nicaragua, with a CAGR of +102.9%, saw 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

In 2022, the average concrete tile import price amounted to $X per ton, growing by 25% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 60% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform