Panama: Unwrought Zinc Alloys Market 2024

Unwrought Zinc Alloys Market Size in Panama

The Panamanian unwrought zinc alloys market was estimated at $X in 2022, almost unchanged from the previous year. In general, consumption showed a resilient expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Unwrought Zinc Alloys Production in Panama

In value terms, unwrought zinc alloys production totaled $X in 2022 estimated in export price. In general, production continues to indicate strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 43%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Unwrought Zinc Alloys Exports

Exports from Panama

In 2022, shipments abroad of unwrought zinc alloys was finally on the rise to reach X kg for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, continue to indicate a sharp slump. The growth pace was the most rapid in 2014 when exports increased by 37% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, unwrought zinc alloys exports reduced modestly to $X in 2022. Overall, exports, however, saw a significant decline. The most prominent rate of growth was recorded in 2013 when exports increased by 67%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cuba (X kg), Guatemala (X kg) and Venezuela (X kg) were the main destinations of unwrought zinc alloys exports from Panama.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cuba (with a CAGR of -20.3%), while the other leaders experienced a decline.

In value terms, Guatemala ($X), Venezuela ($X) and Cuba ($X) constituted the largest markets for unwrought zinc alloys exported from Panama worldwide.

In terms of the main countries of destination, Cuba, with a CAGR of -16.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average unwrought zinc alloys export price amounted to $X per ton, dropping by -7.1% against the previous year. Overall, the export price, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Cuba ($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 Uruguay (+43.2%), while the prices for the other major destinations experienced more modest paces of growth.

Unwrought Zinc Alloys Imports

Imports into Panama

In 2022, after four years of decline, there was significant growth in supplies from abroad of unwrought zinc alloys, when their volume increased by 41% to X tons. In general, imports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 723% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, unwrought zinc alloys imports surged to $X in 2022. Over the period under review, imports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2017 when imports increased by 623%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Peru (X tons) constituted the largest supplier of unwrought zinc alloys to Panama, with a 64% share of total imports. Moreover, unwrought zinc alloys imports from Peru exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Peru stood at -19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.3% per year) and the United States (-25.5% per year).

In value terms, Peru ($X) constituted the largest supplier of unwrought zinc alloys to Panama, comprising 75% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Peru amounted to -13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-14.5% per year) and China (-15.3% per year).

Import Prices by Country

In 2022, the average unwrought zinc alloys import price amounted to $X per ton, reducing by -14.4% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, unwrought zinc alloys import price increased by +10.1% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 31%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

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 the United States (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform