Dominican Republic: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in the Dominican Republic

The Dominican non-aqueous paint and varnish market rose markedly to $X in 2022, picking up by 5.2% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Non-aqueous paint and varnish consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in the Dominican Republic

In value terms, non-aqueous paint and varnish production reached $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 7.7%. Non-aqueous paint and varnish production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from the Dominican Republic

In 2022, shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by -13.8% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.8% against 2015 indices. The growth pace was the most rapid in 2014 with an increase of 55% against the previous year. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, non-aqueous paint and varnish exports rose sharply to $X in 2022. Overall, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.5% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 56%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Haiti (X tons) was the main destination for non-aqueous paint and varnish exports from the Dominican Republic, with a 85% share of total exports. Moreover, non-aqueous paint and varnish exports to Haiti exceeded the volume sent to the second major destination, Guatemala (X tons), more than tenfold. The United States (X tons) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti amounted to +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+34.1% per year) and the United States (+20.9% per year).

In value terms, Haiti ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from the Dominican Republic, comprising 81% of total exports. The second position in the ranking was taken by the United States ($X), with a 3.9% share of total exports. It was followed by Trinidad and Tobago, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.4% per year) and Trinidad and Tobago (0.0% per year).

Export Prices by Country

In 2022, the average non-aqueous paint and varnish export price amounted to $X per ton, increasing by 23% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (-0.7%), while the prices for the other major destinations experienced a decline.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into the Dominican Republic

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium imported into the Dominican Republic soared to X tons, rising by 33% compared with the previous year's figure. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, non-aqueous paint and varnish imports soared to $X in 2022. Overall, imports continue to indicate a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest non-aqueous paint and varnish supplier to the Dominican Republic, accounting for a 46% share of total imports. Moreover, non-aqueous paint and varnish imports from the United States exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+45.5% per year) and China (+21.0% per year).

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to the Dominican Republic, comprising 57% of total imports. The second position in the ranking was taken by Guatemala ($X), with a 12% share of total imports. It was followed by Spain, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+37.7% per year) and Spain (+3.1% per year).

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, rising by 10% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 32%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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