Dominican Republic: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in the Dominican Republic

In 2021, the Dominican synthetic filament tow market increased by 155% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports from the Dominican Republic

In 2021, approx. X tons of synthetic filament tow and staple fibers, not carded or combed were exported from the Dominican Republic; surging by 35% against the year before. In general, exports, however, showed a deep downturn. The pace of growth was the most pronounced in 2016 with an increase of 160% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic filament tow exports surged to $X in 2021. Overall, exports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 187%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for synthetic filament tow exports from the Dominican Republic, with a 76% share of total exports. Moreover, synthetic filament tow exports to the United States exceeded the volume sent to the second major destination, Haiti (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +33.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+7.1% per year) and Costa Rica (-40.4% per year).

In value terms, the United States ($X) remains the key foreign market for synthetic filament tow exports from the Dominican Republic, comprising 62% of total exports. The second position in the ranking was taken by Haiti ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-4.4% per year) and Costa Rica (-31.7% per year).

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, picking up by 48% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 165%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to the United States ($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 Chile (+1,629.7%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Filament Tow Imports

Imports into the Dominican Republic

In 2021, purchases abroad of synthetic filament tow and staple fibers, not carded or combed was finally on the rise to reach X tons after two years of decline. Over the period under review, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 485% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic filament tow imports skyrocketed to $X in 2021. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 442%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of synthetic filament tow imports to the Dominican Republic, with a combined 60% share of total imports. These countries were followed by the United States, Vietnam, Thailand, Indonesia and India, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were in Indonesia (with a CAGR of +51.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and South Korea ($X) constituted the largest synthetic filament tow suppliers to the Dominican Republic, with a combined 63% share of total imports. These countries were followed by Taiwan (Chinese), Vietnam, Thailand, Indonesia and India, which together accounted for a further 29%.

Among the main suppliers, Indonesia, with a CAGR of +37.7%, 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 2021, the average synthetic filament tow import price amounted to $X per ton, growing by 13% against the previous year. Overall, the import price, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 19%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Indonesia ($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 (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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