Dominican Republic: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in the Dominican Republic

The Dominican polyethylene binder market totaled $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Polyethylene binder consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Polyethylene Binder Production in the Dominican Republic

In value terms, polyethylene binder production rose markedly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Polyethylene Binder Exports

Exports from the Dominican Republic

In 2022, approx. X tons of polyethylene or polypropylene binder or baler (agricultural) twines were exported from the Dominican Republic; leveling off at the previous year's figure. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 2,890%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, polyethylene binder exports reduced modestly to $X in 2022. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 2,435% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for polyethylene binder exports from the Dominican Republic, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti totaled +80.8%.

In value terms, Haiti ($X) also remains the key foreign market for polyethylene or polypropylene binder or baler (agricultural) twines exports from the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti totaled +95.5%.

Export Prices by Country

In 2022, the average polyethylene binder export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price, however, saw a prominent increase. The growth pace was the most rapid in 2013 when the average export price increased by 486%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Haiti.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +104.4% per year.

Polyethylene Binder Imports

Imports into the Dominican Republic

In 2022, purchases abroad of polyethylene or polypropylene binder or baler (agricultural) twines decreased by -7.4% to X tons, falling for the fifth consecutive year after four years of growth. Over the period under review, imports, however, showed mild growth. The pace of growth appeared the most rapid in 2014 when imports increased by 46%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, polyethylene binder imports fell slightly to $X in 2022. Overall, imports, however, posted a tangible increase. The pace of growth appeared the most rapid in 2014 when imports increased by 51%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), China (X tons) and Costa Rica (X tons) were the main suppliers of polyethylene binder imports to the Dominican Republic, with a combined 90% share of total imports. Guatemala, Italy and the United States lagged somewhat behind, together comprising a further 9.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +113.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Costa Rica ($X) constituted the largest polyethylene binder suppliers to the Dominican Republic, together accounting for 84% of total imports. Guatemala, Italy and the United States lagged somewhat behind, together accounting for a further 14%.

Italy, with a CAGR of +120.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average polyethylene binder import price amounted to $X per ton, with an increase of 5.2% against the previous year. Over the period under review, the import price continues to indicate slight growth. The pace of growth appeared the most rapid in 2021 an increase of 23% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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