Dominican Republic: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in the Dominican Republic

The Dominican market for grinding, sanding and polishing machines skyrocketed to $X in 2021, growing by 99% against the previous year. Overall, consumption continues to indicate resilient growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Grinding, Sanding and Polishing Machines in the Dominican Republic

In value terms, grinding, sanding and polishing machine production reduced notably to $X in 2021 estimated in export price. Over the period under review, production saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with a decrease of -10.3% against the previous year. Grinding, sanding and polishing machine production peaked at $X in 2020, and then fell markedly in the following year.

Exports of Grinding, Sanding and Polishing Machines

Exports from the Dominican Republic

In 2021, overseas shipments of grinding, sanding and polishing machines increased by 18% to X units, rising for the third year in a row after two years of decline. Overall, exports, however, continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2019 when exports increased by 69% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, grinding, sanding and polishing machine exports reduced to $X in 2021. Over the period under review, exports, however, showed a dramatic downturn. The growth pace was the most rapid in 2016 when exports increased by 81%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Turks and Caicos Islands (X units), Haiti (X units) and Cuba (X units) were the main destinations of grinding, sanding and polishing machine exports from the Dominican Republic, with a combined 97% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cuba (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Haiti ($X) remains the key foreign market for grinding, sanding and polishing machines exports from the Dominican Republic, comprising 48% of total exports. The second position in the ranking was held by Cuba ($X), with a 7.2% share of total exports. It was followed by the United States, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Haiti stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (-17.0% per year) and the United States (-46.7% per year).

Export Prices by Country

The average export price for grinding, sanding and polishing machines stood at $X per unit in 2021, reducing by -26.8% against the previous year. Overall, the export price continues to indicate a dramatic descent. The most prominent rate of growth was recorded in 2016 an increase of 19% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per unit), while the average price for exports to Turks and Caicos Islands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+69.0%), while the prices for the other major destinations experienced a decline.

Imports of Grinding, Sanding and Polishing Machines

Imports into the Dominican Republic

In 2021, purchases abroad of grinding, sanding and polishing machines was finally on the rise to reach X units after three years of decline. Over the period under review, imports continue to indicate a remarkable increase. Imports peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine imports soared to $X in 2021. Overall, imports continue to indicate strong growth. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of grinding, sanding and polishing machine to the Dominican Republic, with a 66% share of total imports. Moreover, grinding, sanding and polishing machine imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +48.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+578.2% per year) and Mexico (+7.0% per year).

In value terms, China ($X) constituted the largest supplier of grinding, sanding and polishing machines to the Dominican Republic, comprising 60% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Mexico, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+18.1% per year) and Mexico (+10.4% per year).

Import Prices by Country

In 2021, the average import price for grinding, sanding and polishing machines amounted to $X per unit, reducing by -4.3% against the previous year. Overall, the import price, however, recorded a slight increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 187% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Spain ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+158.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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