Dominican Republic: Polystyrene Market 2024

Polystyrene Market Size in the Dominican Republic

In 2022, the Dominican polystyrene market increased by 20% to $X, rising for the second consecutive year after two years of decline. In general, consumption enjoyed a prominent increase. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Polystyrene Exports

Exports from the Dominican Republic

Polystyrene exports from the Dominican Republic expanded rapidly to X tons in 2022, increasing by 13% against 2021. In general, exports posted a remarkable increase. The growth pace was the most rapid in 2020 with an increase of 1,269% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, polystyrene exports surged to $X in 2022. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 1,565%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Venezuela (X tons), Jamaica (X tons) and Costa Rica (X tons) were the main destinations of polystyrene exports from the Dominican Republic, together accounting for 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Jamaica (with a CAGR of +21.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for polystyrene exported from the Dominican Republic were Jamaica ($X), Venezuela ($X) and Costa Rica ($X), together comprising 100% of total exports.

Venezuela, with a CAGR of +64.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average polystyrene export price stood at $X per ton in 2022, picking up by 20% against the previous year. In general, the export price showed resilient growth. The most prominent rate of growth was recorded in 2017 an increase of 183%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Costa Rica ($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 Venezuela (+46.7%), while the prices for the other major destinations experienced more modest paces of growth.

Polystyrene Imports

Imports into the Dominican Republic

In 2022, supplies from abroad of polystyrene increased by 9.7% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +102.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 85%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, polystyrene imports skyrocketed to $X in 2022. In general, imports showed strong growth. The growth pace was the most rapid in 2021 with an increase of 140% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X tons), Brazil (X tons) and Colombia (X tons) were the main suppliers of polystyrene imports to the Dominican Republic, together accounting for 69% of total imports. Mexico, the United States, France and Argentina lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +51.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene suppliers to the Dominican Republic were China ($X), Brazil ($X) and Colombia ($X), together accounting for 71% of total imports. Mexico, the United States, France and Argentina lagged somewhat behind, together comprising a further 28%.

Among the main suppliers, Argentina, with a CAGR of +87.0%, recorded the highest growth rate of the value of imports, 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 polystyrene import price amounted to $X per ton, surging by 12% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polystyrene import price increased by +83.6% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 30% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Colombia ($X per ton), while the price for France ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+23.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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