Dominican Republic: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in the Dominican Republic

The Dominican ethylene polymer bag market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Ethylene polymer bag consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Ethylene Polymer Bag Production in the Dominican Republic

In value terms, ethylene polymer bag production shrank slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 33%. Ethylene polymer bag production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Ethylene Polymer Bag Exports

Exports from the Dominican Republic

Ethylene polymer bag exports from the Dominican Republic fell sharply to X tons in 2022, dropping by -48.3% compared with the previous year. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 86%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, ethylene polymer bag exports reduced dramatically to $X in 2022. Overall, exports, however, showed a strong increase. The growth pace was the most rapid in 2021 when exports increased by 99%. As a result, the exports attained the peak of $X, and then contracted remarkably in the following year.

Exports by Country

The United States (X tons), Haiti (X tons) and Panama (X tons) were the main destinations of ethylene polymer bag exports from the Dominican Republic, with a combined 90% share of total exports. Mexico and Canada lagged somewhat behind, together comprising a further 5.1%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +138.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Haiti ($X) and Panama ($X) were the largest markets for ethylene polymer bag exported from the Dominican Republic worldwide, together comprising 91% of total exports. Mexico and Canada lagged somewhat behind, together accounting for a further 4.8%.

Mexico, with a CAGR of +124.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ethylene polymer bag export price amounted to $X per ton, with an increase of 15% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethylene polymer bag export price increased by +42.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 49% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to Panama ($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 Canada (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene Polymer Bag Imports

Imports into the Dominican Republic

In 2022, supplies from abroad of sacks and bags of polymers of ethylene increased by 2.4% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, ethylene polymer bag imports totaled $X in 2022. In general, imports showed a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by 32%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest ethylene polymer bag supplier to the Dominican Republic, accounting for a 52% share of total imports. Moreover, ethylene polymer bag imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Peru (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.5% per year) and Peru (+57.4% per year).

In value terms, the United States ($X) constituted the largest supplier of sacks and bags of polymers of ethylene to the Dominican Republic, comprising 69% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Canada, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.6% per year) and Canada (+22.9% per year).

Import Prices by Country

The average ethylene polymer bag import price stood at $X per ton in 2022, with an increase of 7.3% against the previous year. Overall, the import price recorded a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 56%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($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 (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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