Dominican Republic: Man-Made Filament Yarn Market 2024

Man-Made Filament Yarn Market Size in the Dominican Republic

In 2021, the Dominican man-made filament yarn market decreased by -54.8% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption, however, recorded significant growth. Man-made filament yarn consumption peaked at $X in 2020, and then fell rapidly in the following year.

Man-Made Filament Yarn Exports

Exports from the Dominican Republic

In 2021, approx. X tons of man-made filament yarn were exported from the Dominican Republic; with a decrease of -91.4% on the previous year. Over the period under review, exports saw a precipitous contraction. The most prominent rate of growth was recorded in 2020 with an increase of 807%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, man-made filament yarn exports declined notably to $X in 2021. Overall, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2015 when exports increased by 201%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Mexico (X kg), Thailand (X kg) and the United States (X kg) were the main destinations of man-made filament yarn exports from the Dominican Republic, together comprising 65% 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 Mexico (with a CAGR of +41.1%), while the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X) emerged as the key foreign market for man-made filament yarn exports from the Dominican Republic, comprising 66% of total exports. The second position in the ranking was taken by Mexico ($X), with an 11% share of total exports. It was followed by the United States, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+13.5% per year) and the United States (-7.7% per year).

Export Prices by Country

In 2021, the average man-made filament yarn export price amounted to $X per ton, surging by 270% against the previous year. Over the period under review, the export price enjoyed a resilient increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to El Salvador ($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 Costa Rica (+42.7%), while the prices for the other major destinations experienced more modest paces of growth.

Man-Made Filament Yarn Imports

Imports into the Dominican Republic

After seven years of growth, supplies from abroad of man-made filament yarn decreased by -48.8% to X tons in 2021. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by 151% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then dropped sharply in the following year.

In value terms, man-made filament yarn imports dropped remarkably to $X in 2021. Over the period under review, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2018 with an increase of 192%. Imports peaked at $X in 2020, and then fell sharply in the following year.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest man-made filament yarn supplier to the Dominican Republic, accounting for a 32% share of total imports. Moreover, man-made filament yarn imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Pakistan (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at -19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.4% per year) and Pakistan (+21.7% per year).

In value terms, Indonesia ($X), the United States ($X) and Pakistan ($X) were the largest man-made filament yarn suppliers to the Dominican Republic, with a combined 50% share of total imports. South Korea, Spain, China, Mexico and India lagged somewhat behind, together comprising a further 41%.

Among the main suppliers, Spain, with a CAGR of +56.7%, 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 2021, the average man-made filament yarn import price amounted to $X per ton, falling by -22.9% against the previous year. Over the period under review, the import price saw a perceptible setback. The growth pace was the most rapid in 2018 when the average import price increased by 16% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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