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Panama - Steel Springs And Leaves For Springs - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSteel Spring Price in Panama - 2023
Contents:
- Steel Spring Price in Panama (CIF) - 2023
- Steel Spring Price in Panama (FOB) - 2022
- Steel Spring Imports in Panama
- Steel Spring Exports in Panama
Steel Spring Price in Panama (CIF) - 2023
In July 2023, the average steel spring import price amounted to $3,507 per ton, growing by 6% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in May 2023 an increase of 119% month-to-month. Over the period under review, average import prices reached the peak figure at $7,625 per ton in October 2022; however, from November 2022 to July 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Australia ($30,168 per ton), while the price for Colombia ($1,492 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Australia (+32.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Steel Spring Price in Panama (FOB) - 2022
The average steel spring export price stood at $7,040 per ton in 2022, remaining constant against the previous year. In general, the export price posted a strong expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by 96% against the previous year. The export price peaked at $10,372 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($13,519 per ton), while the average price for exports to Nicaragua ($13,114 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 (+71.9%), while the prices for the other major destinations experienced more modest paces of growth.
Steel Spring Imports in Panama
Steel spring imports into Panama declined sharply to 655 tons in 2022, shrinking by -35.5% on the previous year's figure. Over the period under review, imports, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 110% against the previous year. As a result, imports attained the peak of 1K tons, and then contracted rapidly in the following year.
In value terms, steel spring imports reduced rapidly to $2.6M in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +9.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.9% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 75% against the previous year. As a result, imports reached the peak of $3.3M, and then reduced remarkably in the following year.
Import of Steel Spring in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 299 | 254 | 419 | 790 | 38.2% |
United States | 575 | 371 | 736 | 744 | 9.0% |
Colombia | 218 | 59.6 | 142 | 270 | 7.4% |
Mexico | 152 | 91.8 | 236 | 142 | -2.2% |
Australia | 74.0 | 525 | 78.9 | 131 | 21.0% |
Free Zones | 92.9 | 98.2 | 382 | 119 | 8.6% |
El Salvador | N/A | 0.6 | N/A | 58.9 | 890.8% |
Guatemala | 66.0 | 209 | 997 | 25.4 | -27.3% |
Dominican Republic | 128 | 0.1 | 3.3 | 4.0 | -68.5% |
Others | 387 | 291 | 340 | 298 | -8.3% |
Total | 1,992 | 1,900 | 3,333 | 2,582 | 9.0% |
Top Suppliers of Steel Spring to Panama in 2022:
- China (372.8 tons)
- United States (86.8 tons)
- Colombia (66.3 tons)
- Mexico (36.3 tons)
- El Salvador (33.4 tons)
- Free Zones (19.7 tons)
- Australia (9.7 tons)
- Guatemala (8.4 tons)
- Dominican Republic (2.4 tons)
Steel Spring Exports in Panama
For the third year in a row, Panama recorded decline in overseas shipments of steel springs and leaves for springs, which decreased by 0% to 8.6 tons in 2022. In general, exports faced a sharp downturn. The smallest decline of -37.7% was in 2020.
In value terms, steel spring exports totaled $60K in 2022. Over the period under review, exports faced a precipitous curtailment. The smallest decline of -36.3% was in 2020.
Export of Steel Spring in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Costa Rica | 38.8 | 6.4 | N/A | 5.7 | -47.2% |
Nicaragua | 7.8 | 3.3 | N/A | 4.2 | -18.6% |
Honduras | 6.5 | 3.3 | N/A | 1.2 | -43.1% |
Dominican Republic | 39.0 | 18.6 | N/A | N/A | -52.3% |
Haiti | 20.0 | N/A | N/A | N/A | 0% |
Venezuela | 9.8 | 0.8 | N/A | N/A | -91.8% |
El Salvador | 10.0 | 12.4 | N/A | N/A | 24.0% |
Cuba | 9.6 | 7.9 | N/A | N/A | -17.7% |
Jamaica | 3.6 | N/A | N/A | N/A | 0% |
Others | 44.2 | 67.9 | N/A | 49.2 | 3.6% |
Total | 189 | 121 | N/A | 60.3 | -31.7% |
Top Export Markets for Steel Spring from Panama in 2022:
- Costa Rica (0.4 tons)
- Nicaragua (0.3 tons)
- Honduras (0.1 tons)
This report provides an in-depth analysis of the steel spring market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
- Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
- Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
- Prodcom 25931631 - Iron or steel hot-worked helical springs
- Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
- Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
- Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)
- Prodcom 25931653 - Iron or steel flat spiral springs
- Prodcom 25931655 - Iron or steel discs springs
- Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)
Country coverage:
- Panama
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Panama
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the steel spring market in Panama.
This report provides an in-depth analysis of the market for metal hot-worked helical spring in Panama.
This report provides an in-depth analysis of the market for metal spiral or discs spring in Panama.
This report provides an in-depth analysis of the market for iron or steel leaf-spring in Panama.
This report provides an in-depth analysis of the global steel spring market.
This report provides an in-depth analysis of the global market for metal hot-worked helical spring.
This report provides an in-depth analysis of the global market for iron or steel leaf-spring and leave.
This report provides an in-depth analysis of the global market for metal spiral or discs spring.
This report provides an in-depth analysis of the global market for iron or steel leaf-spring.
This report provides an in-depth analysis of the steel spring market in Panama.
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