Dominican Republic: Metal Pickling Preparations Market 2024

Metal Pickling Preparations Market Size in the Dominican Republic

After two years of decline, the Dominican metal pickling preparations market increased by 188% to $X in 2021. Over the period under review, consumption recorded a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Metal Pickling Preparations Exports

Exports from the Dominican Republic

In 2021, the amount of pickling preparations for metal surfaces exported from the Dominican Republic skyrocketed to X tons, growing by 376% on the previous year's figure. Overall, exports continue to indicate a significant expansion. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, metal pickling preparations exports surged to $X in 2021. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 334% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for metal pickling preparations exports from the Dominican Republic, with a 80% share of total exports. Moreover, metal pickling preparations exports to the United States exceeded the volume sent to the second major destination, Cuba (X tons), ninefold. Aruba (X kg) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +61.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+54.0% per year) and Aruba (+58.8% per year).

In value terms, the largest markets for metal pickling preparations exported from the Dominican Republic were the United States ($X), Cuba ($X) and El Salvador ($X), with a combined 85% share of total exports.

In terms of the main countries of destination, Cuba, with a CAGR of +69.5%, saw the highest rates of growth with regard to 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

The average metal pickling preparations export price stood at $X per ton in 2021, which is down by -48% against the previous year. Overall, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 235%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cuba ($X per ton), while the average price for exports to the United States ($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 Cuba (+10.2%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Pickling Preparations Imports

Imports into the Dominican Republic

In 2021, after two years of decline, there was significant growth in purchases abroad of pickling preparations for metal surfaces, when their volume increased by 168% to X tons. Overall, imports recorded prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by 187% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, metal pickling preparations imports surged to $X in 2021. In general, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest metal pickling preparations supplier to the Dominican Republic, with a 67% share of total imports. Moreover, metal pickling preparations imports from South Korea exceeded the figures recorded by the second-largest supplier, Spain (X tons), sevenfold. The United States (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+30.8% per year) and the United States (+18.3% per year).

In value terms, South Korea ($X) constituted the largest supplier of pickling preparations for metal surfaces to the Dominican Republic, comprising 63% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.9% share of total imports. It was followed by Spain, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value from South Korea stood at +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.1% per year) and Spain (+32.4% per year).

Import Prices by Country

In 2021, the average metal pickling preparations import price amounted to $X per ton, growing by 20% against the previous year. Overall, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average import price increased by 59%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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