Dominican Republic: Plastic Support Market 2024

Plastic Support Market Size in the Dominican Republic

The Dominican plastic support market rose sharply to $X in 2022, picking up by 8.4% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Plastic Support Production in the Dominican Republic

In value terms, plastic support production expanded sharply to $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 33%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Plastic Support Exports

Exports from the Dominican Republic

In 2022, shipments abroad of spools, cops and similar supports of plastics increased by 4.9% to X tons, rising for the sixth year in a row after two years of decline. In general, exports recorded a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 88%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, plastic support exports soared to $X in 2022. Over the period under review, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 105%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Haiti (X tons) and Guyana (X tons) were the main destinations of plastic support exports from the Dominican Republic, together accounting for 73% of total exports. The Philippines, Jamaica, Costa Rica, Panama and Cuba lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Cuba (with a CAGR of +135.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Philippines ($X) and Haiti ($X) constituted the largest markets for plastic support exported from the Dominican Republic worldwide, with a combined 79% share of total exports. Guyana, Jamaica, Costa Rica, Panama and Cuba lagged somewhat behind, together accounting for a further 12%.

In terms of the main countries of destination, Cuba, with a CAGR of +135.1%, recorded 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

In 2022, the average plastic support export price amounted to $X per ton, increasing by 22% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic support export price increased by +40.8% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 the Philippines ($X per ton), while the average price for exports to Cuba ($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 the United States (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Support Imports

Imports into the Dominican Republic

Plastic support imports into the Dominican Republic soared to X tons in 2022, picking up by 15% compared with the previous year. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +88.0% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 35%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, plastic support imports skyrocketed to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +98.8% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 32% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), Mexico (X tons) and Spain (X tons) were the main suppliers of plastic support imports to the Dominican Republic, together accounting for 56% of total imports. Costa Rica, China, El Salvador, Brazil, Colombia, Guatemala and Peru lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by El Salvador (with a CAGR of +41.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic support suppliers to the Dominican Republic were the United States ($X), Mexico ($X) and Spain ($X), with a combined 57% share of total imports. China, Costa Rica, Brazil, El Salvador, Colombia, Guatemala and Peru lagged somewhat behind, together accounting for a further 31%.

El Salvador, with a CAGR of +35.8%, 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

In 2022, the average plastic support import price amounted to $X per ton, picking up by 5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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