Dominican Republic: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in the Dominican Republic

In 2022, the Dominican extruded solid rubber rod market increased by 82% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption posted significant growth. Extruded solid rubber rod consumption peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from the Dominican Republic

In 2022, approx. X tons of extruded solid rubber rods and profiles were exported from the Dominican Republic; growing by 974% compared with the year before. In general, exports, however, faced a abrupt descent. The pace of growth was the most pronounced in 2019 when exports increased by 2,757% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, extruded solid rubber rod exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 8,084% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Turks and Caicos Islands (X tons) was the main destination for extruded solid rubber rod exports from the Dominican Republic, with a 71% share of total exports. Moreover, extruded solid rubber rod exports to Turks and Caicos Islands exceeded the volume sent to the second major destination, Panama (X tons), fourfold. The third position in this ranking was taken by Haiti (X kg), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turks and Caicos Islands totaled +39.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+1,395.8% per year) and Haiti (-20.2% per year).

In value terms, Panama ($X), Haiti ($X) and Turks and Caicos Islands ($X) constituted the largest markets for extruded solid rubber rod exported from the Dominican Republic worldwide, with a combined 98% share of total exports.

Panama, with a CAGR of +181.2%, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, dropping by -42.2% against the previous year. Overall, the export price showed a pronounced downturn. The pace of growth appeared the most rapid in 2019 an increase of 186%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to the United States ($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 Haiti (+8.2%), while the prices for the other major destinations experienced a decline.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into the Dominican Republic

For the fourth year in a row, the Dominican Republic recorded growth in supplies from abroad of extruded solid rubber rods and profiles, which increased by 101% to X tons in 2022. Overall, imports saw measured growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, extruded solid rubber rod imports soared to $X in 2022. In general, imports recorded prominent growth. The growth pace was the most rapid in 2016 when imports increased by 148% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest extruded solid rubber rod supplier to the Dominican Republic, with a 45% share of total imports. Moreover, extruded solid rubber rod imports from China exceeded the figures recorded by the second-largest supplier, Peru (X tons), fourfold. Colombia (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +70.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+268.3% per year) and Colombia (+108.8% per year).

In value terms, China ($X), Malaysia ($X) and the United States ($X) constituted the largest extruded solid rubber rod suppliers to the Dominican Republic, together comprising 61% of total imports. Peru, Colombia, Spain, Germany, Brazil and Canada lagged somewhat behind, together accounting for a further 36%.

Among the main suppliers, Peru, with a CAGR of +197.1%, 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

The average extruded solid rubber rod import price stood at $X per ton in 2022, reducing by -7% against the previous year. Over the period under review, the import price, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2013 when the average import price increased by 68% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+33.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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