Dominican Republic: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in the Dominican Republic

The Dominican cored arc-welding wire market fell rapidly to $X in 2021, which is down by -76.7% 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). Over the period under review, consumption saw a deep contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Cored Arc-Welding Wire Exports

Exports from the Dominican Republic

In 2021, approx. X tons of cored arc-welding wire were exported from the Dominican Republic; growing by 473% on the previous year's figure. Overall, exports posted prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cored arc-welding wire exports surged to $X in 2021. In general, exports enjoyed a noticeable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Costa Rica (X tons), Panama (X tons) and the United States (X tons) were the main destinations of cored arc-welding wire exports from the Dominican Republic, with a combined 99.9% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +10.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cored arc-welding wire exported from the Dominican Republic were Costa Rica ($X), Panama ($X) and the United States ($X), with a combined 100% share of total exports.

Among the main countries of destination, Costa Rica, with a CAGR of +7.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cored arc-welding wire export price stood at $X per ton in 2021, with a decrease of -4.5% against the previous year. Over the period under review, the export price saw a pronounced decline. The pace of growth appeared the most rapid in 2013 an increase of 38%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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 Haiti ($X per ton), while the average price for exports to Costa Rica ($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 Haiti (+2.2%), while the prices for the other major destinations experienced a decline.

Cored Arc-Welding Wire Imports

Imports into the Dominican Republic

In 2021, supplies from abroad of cored arc-welding wire increased by 26% to X tons, rising for the second consecutive year after two years of decline. Overall, imports showed a moderate increase. The growth pace was the most rapid in 2013 when imports increased by 80%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, cored arc-welding wire imports soared to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +117.5% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 80% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest cored arc-welding wire supplier to the Dominican Republic, with a 62% share of total imports. Moreover, cored arc-welding wire imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was held by Mexico (X tons), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.2% per year) and Mexico (+3.1% per year).

In value terms, the United States ($X) constituted the largest supplier of cored arc-welding wire to the Dominican Republic, comprising 65% of total imports. The second position in the ranking was taken by Mexico ($X), with a 12% share of total imports. It was followed by China, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+12.0% per year) and China (+15.9% per year).

Import Prices by Country

In 2021, the average cored arc-welding wire import price amounted to $X per ton, increasing by 32% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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