Panama: Uncoated Filter Paper Market 2024

Uncoated Filter Paper Market Size in Panama

The Panamanian uncoated filter paper market amounted to $X in 2022, rising by 8.2% against the previous year. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -6.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Uncoated Filter Paper Production in Panama

In value terms, uncoated filter paper production expanded notably to $X in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -6.9% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 79% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Uncoated Filter Paper Exports

Exports from Panama

After three years of decline, shipments abroad of uncoated filter paper and paperboard increased by 695% to X kg in 2022. Over the period under review, exports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2016 with an increase of 1,054%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, uncoated filter paper exports amounted to $X in 2022. Overall, exports, however, showed a precipitous shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 1,327%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Jamaica (X kg), Guatemala (X kg) and Bolivia (X kg) were the main destinations of uncoated filter paper exports from Panama, together accounting for 2.3% of total exports. Moreover, uncoated filter paper exports in Jamaica exceeded the figures recorded by the second-largest exporter, Guatemala, twofold.

From 2012 to 2022, the biggest increases were recorded for Jamaica (with a CAGR of +7.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Jamaica ($X) remains the key foreign market for uncoated filter paper and paperboard exports from Panama, comprising 24% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 6.1% share of total exports. It was followed by Guatemala, with a 3% share.

From 2012 to 2022, the average annual growth rate of value to Jamaica amounted to +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-30.2% per year) and Guatemala (-12.9% per year).

Export Prices by Country

The average uncoated filter paper export price stood at $X per ton in 2022, dropping by -87% against the previous year. Over the period under review, the export price saw a dramatic shrinkage. The growth pace was the most rapid in 2013 when the average export price increased by 27%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to El Salvador ($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 Jamaica (-5.4%), while the prices for the other major destinations experienced a decline.

Uncoated Filter Paper Imports

Imports into Panama

In 2022, purchases abroad of uncoated filter paper and paperboard increased by 69% to X tons, rising for the second year in a row after two years of decline. In general, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 970% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, uncoated filter paper imports skyrocketed to $X in 2022. Overall, imports showed a strong increase. The growth pace was the most rapid in 2016 when imports increased by 1,049%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest uncoated filter paper supplier to Panama, with a 66% share of total imports. Moreover, uncoated filter paper imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+114.1% per year) and China (-12.9% per year).

In value terms, the United States ($X) constituted the largest supplier of uncoated filter paper and paperboard to Panama, comprising 75% of total imports. The second position in the ranking was held by the UK ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +37.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+70.7% per year) and China (-23.2% per year).

Import Prices by Country

In 2022, the average uncoated filter paper import price amounted to $X per ton, growing by 27% against the previous year. Over the period under review, the import price posted resilient growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by 40%. Over the period under review, average import prices reached the maximum 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 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 the United States (+7.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform