Panama: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2025

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in Panama

In 2022, the Panamanian market for tube or pipe fittings (of iron or steel) was finally on the rise to reach $X after four years of decline. In general, consumption enjoyed significant growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Tube Or Pipe Fittings (Of Iron Or Steel)

Exports from Panama

In 2022, the amount of tube or pipe fittings (of iron or steel) exported from Panama contracted modestly to X tons, stabilizing at the previous year. Overall, exports saw a deep setback. The pace of growth was the most pronounced in 2014 when exports increased by 16% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, iron or steel tube fitting exports contracted sharply to $X in 2022. In general, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 4.9%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Venezuela (X tons), Colombia (X tons) and Trinidad and Tobago (X tons) were the main destinations of iron or steel tube fitting exports from Panama, together accounting for 24% of total exports. Belgium, Jamaica, Costa Rica, Mexico, El Salvador, Nicaragua, Guatemala, Suriname, Honduras and Ecuador lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +24.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Mexico ($X), Jamaica ($X) and Venezuela ($X) were the largest markets for iron or steel tube fitting exported from Panama worldwide, with a combined 42% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +23.3%, recorded 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 export price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, waning by -23.2% against the previous year. In general, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 17%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 Mexico ($X per ton), while the average price for exports to Suriname ($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 (+29.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tube Or Pipe Fittings (Of Iron Or Steel)

Imports into Panama

In 2022, purchases abroad of tube or pipe fittings (of iron or steel) increased by 72% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 458% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, iron or steel tube fitting imports soared to $X in 2022. Over the period under review, imports posted strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by 431% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel tube fitting to Panama, accounting for a 39% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Free Zones (X tons), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+19.4% per year) and Free Zones (+25.9% per year).

In value terms, the United States ($X), China ($X) and Free Zones ($X) appeared to be the largest iron or steel tube fitting suppliers to Panama, with a combined 67% share of total imports.

In terms of the main suppliers, the United States, with a CAGR of +26.0%, saw the highest rates of growth with regard to the value of imports, 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 import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, saw a perceptible reduction. The growth pace was the most rapid in 2015 an increase of 27% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform