Dominican Republic: Isocyanates Market 2024

Isocyanates Market Size in the Dominican Republic

The Dominican isocyanates market fell to $X in 2022, with a decrease of X% against the previous year. Overall, consumption showed a slight downturn. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Isocyanates Production in the Dominican Republic

In value terms, isocyanates production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Isocyanates Exports

Exports from the Dominican Republic

In 2022, shipments abroad of isocyanates decreased by X% to X kg, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, isocyanates exports declined markedly to $X in 2022. In general, exports recorded a sharp slump. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Haiti (X kg) was the main destination for isocyanates exports from the Dominican Republic, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti totaled X%.

In value terms, Haiti ($X) emerged as the key foreign market for isocyanates exports from the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti totaled X%.

Export Prices by Country

In 2022, the average isocyanates export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price enjoyed a notable increase. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Haiti.

From 2012 to 2022, the rate of growth in terms of prices for Haiti amounted to X% per year.

Isocyanates Imports

Imports into the Dominican Republic

In 2022, after two years of growth, there was significant decline in overseas purchases of isocyanates, when their volume decreased by X% to X tons. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then dropped in the following year.

In value terms, isocyanates imports rose markedly to $X in 2022. Over the period under review, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of isocyanates to the Dominican Republic, accounting for a X% share of total imports. Moreover, isocyanates imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

In value terms, the United States ($X) constituted the largest supplier of isocyanates to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Panama, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Panama (X% per year).

Import Prices by Country

In 2022, the average isocyanates import price amounted to $X per ton, surging by X% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isocyanates import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per ton) and Panama ($X per ton), while the price for South Korea ($X per ton) and the United States ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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