Report Update Nov 1, 2024

Dominican Republic - Articles of Natural Cork and Agglomerated Cork - Market Analysis, Forecast, Size, Trends and Insights

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Dominican Republic: Cork Article Market 2024

Cork Article Market Size in the Dominican Republic

The Dominican cork article market soared to $X in 2021, increasing by 162% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cork Article Exports

Exports from the Dominican Republic

In 2021, shipments abroad of cork articles decreased by -11.4% to X tons, falling for the seventh year in a row after three years of growth. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 168%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cork article exports expanded modestly to $X in 2021. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 125%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Bahamas (X tons) was the main destination for cork article exports from the Dominican Republic, accounting for a 95% share of total exports. Moreover, cork article exports to Bahamas exceeded the volume sent to the second major destination, Mexico (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bahamas amounted to +13.2%.

In value terms, Bahamas ($X) remains the key foreign market for cork articles exports from the Dominican Republic, comprising 79% of total exports. The second position in the ranking was held by Mexico ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahamas stood at +23.4%.

Export Prices by Country

In 2021, the average cork article export price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, the export price saw a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 24%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Bahamas amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahamas (+9.1%).

Cork Article Imports

Imports into the Dominican Republic

Cork article imports into the Dominican Republic surged to X tons in 2021, with an increase of 133% on the previous year's figure. Over the period under review, imports continue to indicate a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cork article imports skyrocketed to $X in 2021. In general, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Portugal (X tons) and the United States (X tons) were the main suppliers of cork article imports to the Dominican Republic, with a combined 53% 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 China (with a CAGR of +33.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) constituted the largest supplier of cork articles to the Dominican Republic, comprising 39% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Spain, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from Portugal amounted to +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.6% per year) and Spain (+2.2% per year).

Import Prices by Country

The average cork article import price stood at $X per ton in 2021, declining by -4.9% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cork article import price increased by +8.1% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 43% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Panama ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for articles of natural cork and agglomerated cork in the world?

The countries with the highest volumes of natural cork consumption in 2020 were Egypt, China and the United States, with a combined 43% share of global consumption. Russia, Brazil, Pakistan, Indonesia, Bangladesh, Mexico, France, Nigeria and Italy lagged somewhat behind, together accounting for a further 20%.

What are the largest producers of articles of natural cork and agglomerated cork in the world?

The countries with the highest volumes of natural cork production in 2020 were Egypt, China and Portugal, together comprising 42% of global production. These countries were followed by the United States, Russia, Brazil, Pakistan, Indonesia, Bangladesh, Mexico and Nigeria, which together accounted for a further 22%.

What are the leading suppliers of articles of natural cork and agglomerated cork to the Dominican Republic?

In value terms, Portugal constituted the largest supplier of natural cork to the Dominican Republic, comprising 65% of total imports. The second position in the ranking was occupied by Spain, with a 24% share of total imports. It was followed by China, with a 3.4% share.

What are the leading importers of articles of natural cork and agglomerated cork from the Dominican Republic?

In value terms, Haiti $780) remains the key foreign market for natural cork exports from the Dominican Republic, comprising 92% of total exports. The second position in the ranking was occupied by the United States $72), with an 8.5% share of total exports.

What is the average export price for articles of natural cork and agglomerated cork in the Dominican Republic?

The average natural cork export price stood at $5,325 per ton in 2020, shrinking by -60.5% against the previous year.

What is the average import price for articles of natural cork and agglomerated cork in the Dominican Republic?

The average natural cork import price stood at $19,809 per ton in 2020, growing by 166% against the previous year.

This report provides an in-depth analysis of the cork article market in the Dominican Republic. 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 16292250 - Corks and stoppers of natural cork
Prodcom 16292290 - Articles of natural cork, others
Prodcom 16292320 - Corks and stoppers, of agglomerated cork, for sparkling wine v.q.p.r.d. (including those with discs of natural cork)
Prodcom 16292350 - Corks and stoppers, of agglomerated cork, for wine (excluding for sparkling wine v.q.p.r.d.)
Prodcom 16292380 - Agglomerated cork - blocks, plates, sheets and strip, tiles of any shape, solid cylinders or discs including agglomerated expanded cork or burnt cork (excluding corks and stoppers)
Prodcom 16292400 - Agglomerated cork, other articles of agglomerated cork, n.e.c.

Country coverage:

Dominican Republic

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Dominican Republic
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023