Dominican Republic: Polyurethanes Market 2024

Polyurethanes Market Size in the Dominican Republic

The Dominican polyurethanes market surged to $X in 2021, with an increase of 24% 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 continues to indicate a prominent increase. Polyurethanes consumption peaked in 2021 and is likely to see gradual growth in the near future.

Polyurethanes Exports

Exports from the Dominican Republic

Polyurethanes exports from the Dominican Republic shrank significantly to X tons in 2021, falling by -82.9% compared with the year before. Over the period under review, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 1,485%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyurethanes exports reduced sharply to $X in 2021. In general, exports faced a dramatic setback. The pace of growth was the most pronounced in 2020 when exports increased by 1,376% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for polyurethanes exports from the Dominican Republic, with a 92% share of total exports. Moreover, polyurethanes exports to China exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+9.8% per year) and Trinidad and Tobago (-52.3% per year).

In value terms, China ($X) remains the key foreign market for polyurethanes in primary forms exports from the Dominican Republic, comprising 74% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.4% per year) and Trinidad and Tobago (-43.0% per year).

Export Prices by Country

In 2021, the average polyurethanes export price amounted to $X per ton, which is down by -9.3% against the previous year. In general, the export price, however, posted a strong increase. The pace of growth appeared the most rapid in 2017 an increase of 184% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Trinidad and Tobago (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Polyurethanes Imports

Imports into the Dominican Republic

In 2021, imports of polyurethanes in primary forms into the Dominican Republic expanded slightly to X tons, picking up by 3.5% against 2020. Overall, imports posted prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 43%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, polyurethanes imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2015 with an increase of 43% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest polyurethanes supplier to the Dominican Republic, accounting for a 79% share of total imports. Moreover, polyurethanes imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold. The third position in this ranking was taken by Cayman Islands (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+19.9% per year) and Cayman Islands (+6.2% per year).

In value terms, the United States ($X) constituted the largest supplier of polyurethanes in primary forms to the Dominican Republic, comprising 87% of total imports. The second position in the ranking was held by Spain ($X), with a 4.3% share of total imports. It was followed by Cayman Islands, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+18.9% per year) and Cayman Islands (+3.9% per year).

Import Prices by Country

The average polyurethanes import price stood at $X per ton in 2021, growing by 21% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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