Dominican Republic: Abrasives Market 2024

Abrasives Market Size in the Dominican Republic

The Dominican abrasives market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.5% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Abrasives Production in the Dominican Republic

In value terms, abrasives production expanded sharply to $X in 2021 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.5% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 47%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Abrasives Exports

Exports from the Dominican Republic

In 2021, the amount of abrasives (natural) exported from the Dominican Republic skyrocketed to X tons, increasing by 86% compared with the previous year. In general, exports posted perceptible growth. The most prominent rate of growth was recorded in 2019 when exports increased by 515% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, abrasives exports surged to $X in 2021. Over the period under review, exports showed a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 625% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

France (X tons), the United States (X tons) and Hong Kong SAR (X tons) were the main destinations of abrasives exports from the Dominican Republic, together comprising 82% of total exports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +108.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for abrasives (natural) exports from the Dominican Republic, comprising 66% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by India, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR totaled +110.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+32.1% per year) and India (+76.5% per year).

Export Prices by Country

In 2021, the average abrasives export price amounted to $X per ton, increasing by 8.7% against the previous year. In general, the export price recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 422% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+32.4%), while the prices for the other major destinations experienced mixed trend patterns.

Abrasives Imports

Imports into the Dominican Republic

In 2021, the amount of abrasives (natural) imported into the Dominican Republic surged to X tons, picking up by 170% on the previous year. Overall, imports enjoyed a notable increase. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, abrasives imports surged to $X in 2021. In general, imports saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Italy (X tons) and Australia (X tons) were the main suppliers of abrasives imports to the Dominican Republic, with a combined 78% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +27.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Mexico ($X) constituted the largest abrasives suppliers to the Dominican Republic, with a combined 77% share of total imports. These countries were followed by Australia, Canada, Germany, Colombia, Turkey and China, which together accounted for a further 21%.

Among the main suppliers, Canada, with a CAGR of +42.5%, saw the highest growth rate of 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 2021, the average abrasives import price amounted to $X per ton, declining by -6.4% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, abrasives import price increased by +24.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 67% against the previous year. The import price peaked at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+29.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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