Dominican Republic: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in the Dominican Republic

The Dominican plastic reservoir market amounted to $X in 2022, growing by 4.6% against the previous year. Over the period under review, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.6% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Plastic Reservoir Production in the Dominican Republic

In value terms, plastic reservoir production expanded significantly to $X in 2022 estimated in export price. Overall, production saw resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 49%. Plastic reservoir production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plastic Reservoir Exports

Exports from the Dominican Republic

In 2022, approx. X tons of plastic reservoirs, tanks and vats were exported from the Dominican Republic; rising by 31% on 2021 figures. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 479% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic reservoir exports skyrocketed to $X in 2022. In general, exports showed significant growth. The growth pace was the most rapid in 2017 when exports increased by 560%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for plastic reservoir exports from the Dominican Republic, with a 87% share of total exports. Moreover, plastic reservoir exports to the United States exceeded the volume sent to the second major destination, Haiti (X tons), more than tenfold. Turks and Caicos Islands (X tons) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+16.6% per year) and Turks and Caicos Islands (+31.8% per year).

In value terms, the United States ($X) remains the key foreign market for plastic reservoirs, tanks and vats exports from the Dominican Republic, comprising 88% of total exports. The second position in the ranking was taken by Haiti ($X), with a 6.5% share of total exports. It was followed by Turks and Caicos Islands, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +36.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+18.5% per year) and Turks and Caicos Islands (+27.4% per year).

Export Prices by Country

The average plastic reservoir export price stood at $X per ton in 2022, picking up by 12% against the previous year. In general, the export price enjoyed buoyant growth. The pace of growth was the most pronounced in 2016 an increase of 76% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to Cuba ($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 the United States (+8.2%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Reservoir Imports

Imports into the Dominican Republic

After two years of growth, supplies from abroad of plastic reservoirs, tanks and vats decreased by -18.5% to X tons in 2022. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 when imports increased by 151%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic reservoir imports shrank rapidly to $X in 2022. Overall, imports recorded a abrupt descent. The growth pace was the most rapid in 2014 when imports increased by 131%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of plastic reservoir to the Dominican Republic, accounting for a 86% share of total imports. Moreover, plastic reservoir imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was taken by Spain (X tons), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.5% per year) and Spain (-22.5% per year).

In value terms, the United States ($X) constituted the largest supplier of plastic reservoirs, tanks and vats to the Dominican Republic, comprising 84% of total imports. The second position in the ranking was taken by China ($X), with a 4.5% share of total imports. It was followed by Brazil, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.7% per year) and Brazil (+8.7% per year).

Import Prices by Country

The average plastic reservoir import price stood at $X per ton in 2022, with a decrease of -4.3% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 170% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+12.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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