Dominican Republic: Monophenols Market 2024

Monophenols Market Size in the Dominican Republic

The Dominican monophenols market shrank to $X in 2021, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt contraction. Monophenols consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Monophenols Exports

Exports from the Dominican Republic

In 2021, the amount of monophenols exported from the Dominican Republic reduced notably to X tons, shrinking by -54.9% compared with 2020. Overall, exports showed a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 140%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, monophenols exports reduced dramatically to $X in 2021. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 125% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Haiti (X tons), Costa Rica (X tons) and Jamaica (X tons) were the main destinations of monophenols exports from the Dominican Republic, with a combined 98% 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 Costa Rica (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, Haiti ($X) remains the key foreign market for monophenols exports from the Dominican Republic, comprising 66% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 25% share of total exports. It was followed by Jamaica, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Haiti was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (0.0% per year) and Jamaica (-4.2% per year).

Export Prices by Country

In 2021, the average monophenols export price amounted to $X per ton, declining by -16.1% against the previous year. In general, the export price, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 an increase of 102% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then fell rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Haiti ($X per ton), while the average price for exports to Jamaica ($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 Haiti (+8.0%), while the prices for the other major destinations experienced mixed trend patterns.

Monophenols Imports

Imports into the Dominican Republic

Monophenols imports into the Dominican Republic contracted to X tons in 2021, shrinking by -13.2% compared with the year before. Overall, imports showed a perceptible decline. The most prominent rate of growth was recorded in 2019 with an increase of 42%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, monophenols imports stood at $X in 2021. Over the period under review, imports saw a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 16%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of monophenols to the Dominican Republic, with a 38% share of total imports. Moreover, monophenols imports from Russia exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by Latvia (X tons), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.3% per year) and Latvia (-2.0% per year).

In value terms, Russia ($X), the United States ($X) and Latvia ($X) were the largest monophenols suppliers to the Dominican Republic, with a combined 73% share of total imports. The Netherlands, Spain, China, Brazil and Mexico lagged somewhat behind, together comprising a further 23%.

China, with a CAGR of +24.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average monophenols import price stood at $X per ton in 2021, increasing by 19% against the previous year. Over the period under review, the import price, however, showed a noticeable decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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