Dominican Republic: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in the Dominican Republic

The Dominican glass fibres and wool market shrank modestly to $X in 2022, remaining constant against the previous year. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.8% against 2019 indices. Glass fibres and wool consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Glass Fibres And Glass Wool in the Dominican Republic

In value terms, glass fibres and wool production shrank slightly to $X in 2022 estimated in export price. Overall, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.3% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 76%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Glass Fibres And Glass Wool

Exports from the Dominican Republic

In 2022, the amount of glass fibres and glass wool exported from the Dominican Republic skyrocketed to X tons, jumping by 31% on 2021 figures. Overall, exports, however, continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 366%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, glass fibres and wool exports contracted remarkably to $X in 2022. In general, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 1,077% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) and the United States (X tons) were the main destinations of glass fibres and wool exports from the Dominican Republic.

From 2012 to 2022, the biggest increases were recorded for Haiti (with a CAGR of +66.7%).

In value terms, Haiti ($X) and the United States ($X) appeared to be the largest markets for glass fibres and wool exported from the Dominican Republic worldwide.

Among the main countries of destination, Haiti, with a CAGR of +53.4%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the average glass fibres and wool export price amounted to $X per ton, declining by -38.3% against the previous year. Overall, the export price saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 232%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, 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 stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+33.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into the Dominican Republic

Glass fibres and wool imports into the Dominican Republic fell slightly to X tons in 2022, with a decrease of -2.4% against 2021. In general, imports, however, showed a temperate expansion. The pace of growth was the most pronounced in 2016 with an increase of 235% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibres and wool imports shrank to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 233% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibres and wool to the Dominican Republic, with a 52% share of total imports. Moreover, glass fibres and wool imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Mexico (X tons), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.2% per year) and Mexico (+21.0% per year).

In value terms, the largest glass fibres and wool suppliers to the Dominican Republic were the United States ($X), China ($X) and Mexico ($X), with a combined 88% share of total imports. Spain and Colombia lagged somewhat behind, together comprising a further 11%.

Among the main suppliers, Spain, with a CAGR of +15.4%, 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

In 2022, the average glass fibres and wool import price amounted to $X per ton, waning by -10.6% against the previous year. Overall, the import price showed a perceptible slump. The pace of growth appeared the most rapid in 2013 when the average import price increased by 62%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a 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 Spain ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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