Dominican Republic: Alkyd Resins Market 2024

Alkyd Resins Market Size in the Dominican Republic

In 2022, the Dominican alkyd resins market decreased by -54.6% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption faced a abrupt slump. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Alkyd Resins Production in the Dominican Republic

In value terms, alkyd resins production reached $X in 2022 estimated in export price. In general, production, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2019 with an increase of 124% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Alkyd Resins Exports

Exports from the Dominican Republic

In 2022, overseas shipments of alkyd resins in primary forms increased by 4.6% to X tons, rising for the fourth year in a row after three years of decline. Overall, exports showed pronounced growth. The most prominent rate of growth was recorded in 2019 with an increase of 139%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, alkyd resins exports skyrocketed to $X in 2022. Over the period under review, exports posted pronounced growth. The most prominent rate of growth was recorded in 2019 with an increase of 128% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Guatemala (X tons), the United States (X tons) and Costa Rica (X tons) were the main destinations of alkyd resins exports from the Dominican Republic, together accounting for 63% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +13.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for alkyd resins exported from the Dominican Republic were the United States ($X), Guatemala ($X) and Costa Rica ($X), with a combined 66% share of total exports.

The United States, with a CAGR of +21.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, surging by 28% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the average price for exports to Costa Rica ($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 the United States (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into the Dominican Republic

In 2022, approx. X tons of alkyd resins in primary forms were imported into the Dominican Republic; waning by -60.3% against 2021 figures. In general, imports, however, showed a notable expansion. The most prominent rate of growth was recorded in 2016 with an increase of 377% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, alkyd resins imports dropped significantly to $X in 2022. Over the period under review, imports, however, enjoyed temperate growth. The pace of growth appeared the most rapid in 2016 when imports increased by 279%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest alkyd resins supplier to the Dominican Republic, accounting for a 67% share of total imports. Moreover, alkyd resins imports from the United States exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+68.6% per year) and Turkey (+60.5% per year).

In value terms, the United States ($X) constituted the largest supplier of alkyd resins in primary forms to the Dominican Republic, comprising 64% of total imports. The second position in the ranking was taken by Egypt ($X), with a 22% share of total imports. It was followed by Turkey, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+89.3% per year) and Turkey (+60.1% per year).

Import Prices by Country

The average alkyd resins import price stood at $X per ton in 2022, jumping by 22% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 37% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Egypt ($X per ton) and Turkey ($X per ton), while the price for Mexico ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+12.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :