Dominican Republic: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in the Dominican Republic

In 2021, the Dominican market for lauric acid and other acids, their salts and esters increased by 162% to $X, rising for the second year in a row after two years of decline. Overall, consumption showed a notable increase. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from the Dominican Republic

In 2021, overseas shipments of lauric acid and other acids, their salts and esters increased by 147% to X tons, rising for the second consecutive year after seven years of decline. Overall, exports, however, saw a noticeable descent. The pace of growth appeared the most rapid in 2020 when exports increased by 432% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of lauric acid and other acids, their salts and esters soared to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 614% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Haiti (X tons), Guatemala (X tons) and Trinidad and Tobago (X tons) were the main destinations of exports of lauric acid and other acids, their salts and esters from the Dominican Republic, with a combined 85% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Haiti (with a CAGR of +31.5%), while the other leaders experienced more modest paces of growth.

In value terms, Haiti ($X), Guatemala ($X) and Costa Rica ($X) were the largest markets for lauric acid and other acids, their salts and esters exported from the Dominican Republic worldwide, together comprising 91% of total exports.

In terms of the main countries of destination, Haiti, with a CAGR of +40.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for lauric acid and other acids, their salts and esters amounted to $X per ton, growing by 74% against the previous year. Over the period under review, the export price saw a moderate expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Jamaica ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into the Dominican Republic

In 2021, overseas purchases of lauric acid and other acids, their salts and esters increased by 184% to X tons, rising for the second year in a row after two years of decline. Overall, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of lauric acid and other acids, their salts and esters surged to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of lauric acid and other acids, their salts and esters to the Dominican Republic, with a 30% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Brazil (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands totaled +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.8% per year) and Brazil (-0.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of lauric acid and other acids, their salts and esters to the Dominican Republic, comprising 30% of total imports. The second position in the ranking was held by the United States ($X), with a 7.5% share of total imports. It was followed by Germany, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.9% per year) and Germany (-6.7% per year).

Import Prices by Country

In 2021, the average import price for lauric acid and other acids, their salts and esters amounted to $X per ton, dropping by -12.7% against the previous year. Over the period under review, the import price saw a abrupt slump. The pace of growth appeared the most rapid in 2018 when the average import price increased by 6%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :