Dominican Republic: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in the Dominican Republic

In 2022, the Dominican asphalt or bitumen article market increased by 14% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, continues to indicate buoyant growth. Asphalt or bitumen article consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports of Asphalt or Bitumen Articles

Exports from the Dominican Republic

In 2022, asphalt or bitumen article exports from the Dominican Republic dropped slightly to X tons, waning by -2.8% against 2021. Overall, exports, however, posted strong growth. The pace of growth was the most pronounced in 2014 when exports increased by 802%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, asphalt or bitumen article exports fell notably to $X in 2022. Over the period under review, exports recorded a mild descent. The most prominent rate of growth was recorded in 2014 when exports increased by 707%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Panama (X tons) was the main destination for asphalt or bitumen article exports from the Dominican Republic, with a 66% share of total exports. Moreover, asphalt or bitumen article exports to Panama exceeded the volume sent to the second major destination, Haiti (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to Panama amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-8.2% per year) and the United States (+58.8% per year).

In value terms, Panama ($X) emerged as the key foreign market for asphalt or bitumen articles exports from the Dominican Republic, comprising 52% of total exports. The second position in the ranking was held by Haiti ($X), with a 23% share of total exports. It was followed by the United States, with a 22% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama amounted to +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-10.7% per year) and the United States (+32.8% per year).

Export Prices by Country

The average asphalt or bitumen article export price stood at $X per ton in 2022, shrinking by -24.1% against the previous year. Overall, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2016 an increase of 137%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Jamaica ($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 Turks and Caicos Islands (+13.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Asphalt or Bitumen Articles

Imports into the Dominican Republic

In 2022, the amount of asphalt or bitumen articles imported into the Dominican Republic contracted to X tons, falling by -6.3% compared with the previous year. In general, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2016 when imports increased by 157%. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, asphalt or bitumen article imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 83%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

Italy (X tons), the United States (X tons) and Canada (X tons) were the main suppliers of asphalt or bitumen article imports to the Dominican Republic, together accounting for 84% of total imports. Lithuania, Venezuela, Egypt, Colombia, Russia and Spain lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +50.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Canada ($X) appeared to be the largest asphalt or bitumen article suppliers to the Dominican Republic, together comprising 83% of total imports. Venezuela, Lithuania, Colombia, Egypt, Russia and Spain lagged somewhat behind, together comprising a further 12%.

In terms of the main suppliers, Lithuania, with a CAGR of +64.4%, saw the highest rates of growth with regard to 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

The average asphalt or bitumen article import price stood at $X per ton in 2022, surging by 40% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decrease. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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