Dominican Republic: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in the Dominican Republic

The Dominican polypropylene in primary forms market declined sharply to $X in 2022, waning by -16.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a buoyant increase. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Exports of Polypropylene in Primary Forms

Exports from the Dominican Republic

In 2022, overseas shipments of polypropylene in primary forms increased by 122% to X tons, rising for the second consecutive year after three years of decline. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 472% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, polypropylene in primary forms exports surged to $X in 2022. In general, exports saw a significant expansion. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X tons) was the main destination for polypropylene in primary forms exports from the Dominican Republic, accounting for a 87% share of total exports. Moreover, polypropylene in primary forms exports to Venezuela exceeded the volume sent to the second major destination, Peru (X tons), more than tenfold. The third position in this ranking was held by Haiti (X tons), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-21.5% per year) and Haiti (+18.7% per year).

In value terms, Venezuela ($X) emerged as the key foreign market for polypropylene in primary forms exports from the Dominican Republic, comprising 91% of total exports. The second position in the ranking was taken by Haiti ($X), with a 3.8% share of total exports. It was followed by the United States, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Venezuela was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+16.1% per year) and the United States (+3.6% per year).

Export Prices by Country

In 2022, the average polypropylene in primary forms export price amounted to $X per ton, growing by 309% against the previous year. Overall, the export price enjoyed a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($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 Peru (+15.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polypropylene in Primary Forms

Imports into the Dominican Republic

In 2022, the amount of polypropylene in primary forms imported into the Dominican Republic declined significantly to X tons, falling by -20.1% on the year before. In general, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 54%. As a result, imports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, polypropylene in primary forms imports shrank to $X in 2022. Overall, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 113%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Saudi Arabia (X tons), the United States (X tons) and Colombia (X tons) were the main suppliers of polypropylene in primary forms imports to the Dominican Republic, together comprising 71% of total imports. China, Argentina, Mexico, South Africa and South Korea lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +460.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polypropylene in primary forms suppliers to the Dominican Republic were Saudi Arabia ($X), Colombia ($X) and the United States ($X), with a combined 71% share of total imports. China, Argentina, Mexico, South Korea and South Africa lagged somewhat behind, together accounting for a further 25%.

South Africa, with a CAGR of +558.2%, 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

The average polypropylene in primary forms import price stood at $X per ton in 2022, rising by 12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 39%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Colombia ($X per ton) and South Korea ($X per ton), while the price for South Africa ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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