Dominican Republic: Synthetic Rubber Market 2025

Synthetic Rubber Market Size in the Dominican Republic

In 2021, the Dominican synthetic rubber market increased by 52% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption posted a perceptible expansion. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Synthetic Rubber Exports

Exports from the Dominican Republic

In 2021, overseas shipments of synthetic rubber increased by 10,414% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2017 with an increase of 18,773%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, synthetic rubber exports soared to $X in 2021. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 26,885%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Vietnam (X tons) was the main destination for synthetic rubber exports from the Dominican Republic, with a 100% share of total exports. It was followed by Haiti (X tons), with a 2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Vietnam was relatively modest.

In value terms, Vietnam ($X) emerged as the key foreign market for synthetic rubber exports from the Dominican Republic, comprising 98% of total exports. The second position in the ranking was held by Haiti ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam was relatively modest.

Export Prices by Country

The average synthetic rubber export price stood at $X per kg in 2021, jumping by 120% against the previous year. Over the period under review, the export price recorded temperate growth. The growth pace was the most rapid in 2016 an increase of 65,483%. As a result, the export price attained the peak level of $X per kg. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per kg), while the average price for exports to Haiti stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+870.0%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into the Dominican Republic

In 2021, overseas purchases of synthetic rubber increased by 59% to X tons, rising for the second consecutive year after two years of decline. Overall, imports posted a buoyant expansion. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, synthetic rubber imports soared to $X in 2021. In general, imports enjoyed noticeable growth. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Mexico (X tons), the United States (X tons) and China (X tons) were the main suppliers of synthetic rubber imports to the Dominican Republic, with a combined 57% share of total imports. These countries were followed by Germany, Thailand, Japan and India, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +20.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber suppliers to the Dominican Republic were China ($X), Mexico ($X) and the United States ($X), with a combined 77% share of total imports.

China, with a CAGR of +25.2%, saw the highest growth rate of the value of imports, in terms of 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 2021, the average synthetic rubber import price amounted to $X per ton, with an increase of 8.2% against the previous year. In general, the import price, however, continues to indicate a perceptible reduction. The growth pace was the most rapid in 2013 an increase of 10%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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 Thailand ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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