Dominican Republic: Insulating Fittings Market 2024

Insulating Fittings Market Size in the Dominican Republic

In 2021, after two years of growth, there was significant decline in the Dominican insulating fittings market, when its value decreased by -8.9% to $X. Over the period under review, consumption recorded a abrupt decline. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Insulating Fittings Production in the Dominican Republic

In value terms, insulating fittings production reduced to $X in 2021 estimated in export price. In general, production saw a deep contraction. The pace of growth was the most pronounced in 2019 when the production volume increased by 379%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Insulating Fittings Exports

Exports from the Dominican Republic

In 2021, shipments abroad of insulating fittings for electrical purposes increased by 23% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports, however, saw a dramatic descent. The pace of growth was the most pronounced in 2015 with an increase of 376% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, insulating fittings exports surged to $X in 2021. In general, exports, however, recorded a precipitous decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 318%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Haiti (X tons) was the main destination for insulating fittings exports from the Dominican Republic, with a 99% share of total exports. It was followed by the United States (X kg), with a 0.8% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Haiti amounted to -3.0%.

In value terms, Haiti ($X) emerged as the key foreign market for insulating fittings for electrical purposes exports from the Dominican Republic, comprising 100% of total exports. The second position in the ranking was held by the United States ($X), with a 0.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Haiti totaled -4.6%.

Export Prices by Country

In 2021, the average insulating fittings export price amounted to $X per ton, growing by 108% against the previous year. Over the period under review, the export price, however, showed a abrupt decrease. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 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 the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (-1.6%).

Insulating Fittings Imports

Imports into the Dominican Republic

Insulating fittings imports into the Dominican Republic declined to X tons in 2021, which is down by -12.7% on the previous year. Over the period under review, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 222% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, insulating fittings imports skyrocketed to $X in 2021. Overall, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2018 when imports increased by 120% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of insulating fittings imports to the Dominican Republic, together comprising 95% of total imports. These countries were followed by Peru and Spain, which together accounted for a further 2%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +29.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of insulating fittings for electrical purposes to the Dominican Republic, comprising 68% of total imports. The second position in the ranking was held by the United States ($X), with a 21% share of total imports. It was followed by Brazil, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-19.7% per year) and Brazil (+7.0% per year).

Import Prices by Country

In 2021, the average insulating fittings import price amounted to $X per ton, with an increase of 46% against the previous year. Over the period under review, the import price, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2020 an increase of 63% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, 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 Spain ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :