Dominican Republic: Non-Metal Permanent Magnet Market 2024

Non-Metal Permanent Magnet Market Size in the Dominican Republic

The Dominican non-metal permanent magnet market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption showed a buoyant expansion. Non-metal permanent magnet consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Non-Metal Permanent Magnet Production in the Dominican Republic

In value terms, non-metal permanent magnet production rose notably to $X in 2021 estimated in export price. In general, production continues to indicate a buoyant expansion. The growth pace was the most rapid in 2016 when the production volume increased by 63% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Non-Metal Permanent Magnet Exports

Exports from the Dominican Republic

In 2021, the amount of non-metal permanent magnets exported from the Dominican Republic dropped to X kg, waning by -4.5% compared with the previous year. Over the period under review, exports saw a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 3.1%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, non-metal permanent magnet exports dropped rapidly to $X in 2021. In general, exports recorded a sharp curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 38% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X kg) was the main destination for non-metal permanent magnet exports from the Dominican Republic, with a 87% share of total exports. Moreover, non-metal permanent magnet exports to Mexico exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Mexico amounted to -42.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-25.2% per year) and Canada (-40.5% per year).

In value terms, Mexico ($X) remains the key foreign market for non-metal permanent magnets exports from the Dominican Republic, comprising 83% of total exports. The second position in the ranking was held by the United States ($X), with a 5.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico amounted to -36.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-17.2% per year) and Canada (-39.2% per year).

Export Prices by Country

The average non-metal permanent magnet export price stood at $X per ton in 2021, with a decrease of -42.9% against the previous year. Overall, the export price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 an increase of 68%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Canada ($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 Mexico (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into the Dominican Republic

In 2021, approx. X tons of non-metal permanent magnets were imported into the Dominican Republic; growing by 90% compared with the previous year. Over the period under review, imports saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-metal permanent magnet imports surged to $X in 2021. In general, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Costa Rica (X tons), Mexico (X tons) and China (X tons) were the main suppliers of non-metal permanent magnet imports to the Dominican Republic, together comprising 83% of total imports.

From 2012 to 2021, the biggest increases were recorded for Costa Rica (with a CAGR of +83.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-metal permanent magnet suppliers to the Dominican Republic were Costa Rica ($X), the United States ($X) and Mexico ($X), with a combined 72% share of total imports.

Among the main suppliers, Costa Rica, with a CAGR of +88.5%, recorded the highest rates of growth with regard to 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

The average non-metal permanent magnet import price stood at $X per ton in 2021, shrinking by -5.6% against the previous year. Over the period under review, the import price recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2015 when the average import price increased by 42% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Mexico ($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 (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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