Dominican Republic: Market for Prepared Glues And Other Prepared Adhesives 2024

Market Size for Prepared Glues And Other Prepared Adhesives in the Dominican Republic

The Dominican market for prepared glues and other prepared adhesives expanded to $X in 2021, picking up by 3.7% against the previous year. The market value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Production of Prepared Glues And Other Prepared Adhesives in the Dominican Republic

In value terms, production of prepared glues and other prepared adhesives reached $X in 2021 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.6% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 20%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Prepared Glues And Other Prepared Adhesives

Exports from the Dominican Republic

Exports of prepared glues and other prepared adhesives from the Dominican Republic plummeted to X tons in 2021, falling by -34.3% on the year before. Over the period under review, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 173%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of prepared glues and other prepared adhesives reduced to $X in 2021. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 111% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for exports of prepared glues and other prepared adhesives from the Dominican Republic, with a 1,345% share of total exports. Moreover, exports of prepared glues and other prepared adhesives to Haiti exceeded the volume sent to the second major destination, Venezuela (X tons), sevenfold. The United States (X tons) ranked third in terms of total exports with a 159% share.

From 2012 to 2021, the average annual growth rate of volume to Haiti was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+367.5% per year) and the United States (+8.5% per year).

In value terms, the largest markets for prepared glues and other prepared adhesives exported from the Dominican Republic were Venezuela ($X), the United States ($X) and Haiti ($X).

Among the main countries of destination, Venezuela, with a CAGR of +384.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for prepared glues and other prepared adhesives stood at $X per ton in 2021, surging by 37% against the previous year. Over the period under review, the export price enjoyed prominent growth. The pace of growth appeared the most rapid in 2016 an increase of 42% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Haiti ($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 Costa Rica (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Glues And Other Prepared Adhesives

Imports into the Dominican Republic

In 2021, supplies from abroad of prepared glues and other prepared adhesives was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 40%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of prepared glues and other prepared adhesives skyrocketed to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest prepared glues and other prepared adhesives supplier to the Dominican Republic, accounting for a 84% share of total imports. Moreover, imports of prepared glues and other prepared adhesives from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.5% per year) and Turkey (+51.0% per year).

In value terms, the United States ($X) constituted the largest supplier of prepared glues and other prepared adhesives to the Dominican Republic, comprising 97% of total imports. The second position in the ranking was held by China ($X), with a 22% share of total imports. It was followed by Mexico, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.7% per year) and Mexico (+6.7% per year).

Import Prices by Country

In 2021, the average import price for prepared glues and other prepared adhesives amounted to $X per ton, growing by 8.2% against the previous year. In general, the import price, however, continues to indicate a mild shrinkage. The growth pace was the most rapid in 2020 an increase of 13% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Turkey ($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 (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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