Report Update Nov 1, 2024

Dominican Republic - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Dominican Republic: Urea Market 2024

Urea Market Size in the Dominican Republic

For the third consecutive year, the Dominican urea market recorded growth in sales value, which increased by 38% to $X in 2022. Over the period under review, consumption, however, recorded a perceptible increase. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Urea Exports

Exports from the Dominican Republic

Urea exports from the Dominican Republic fell markedly to X tons in 2022, waning by -78.8% on the previous year's figure. In general, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 when exports increased by 182%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, urea exports dropped dramatically to $X in 2022. Overall, exports faced a sharp decrease. The growth pace was the most rapid in 2017 when exports increased by 113%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for urea exports from the Dominican Republic, with a 79% share of total exports. Moreover, urea exports to the United States exceeded the volume sent to the second major destination, France (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +16.0%.

In value terms, the United States ($X) and France ($X) constituted the largest markets for urea exported from the Dominican Republic worldwide.

In terms of the main countries of destination, France, with a CAGR of +446.3%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average urea export price stood at $X per ton in 2022, growing by 16% against the previous year. Overall, the export price, however, saw a slight downturn. The pace of growth appeared the most rapid in 2021 an increase of 22%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 France ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (+38.8%), while the prices for the other major destinations experienced more modest paces of growth.

Urea Imports

Imports into the Dominican Republic

Urea imports into the Dominican Republic contracted to X tons in 2022, which is down by -7.8% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 28% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, urea imports surged to $X in 2022. Overall, imports, however, posted a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Trinidad and Tobago (X tons) constituted the largest urea supplier to the Dominican Republic, with a 74% share of total imports. Moreover, urea imports from Trinidad and Tobago exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Trinidad and Tobago stood at -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+38.1% per year) and Russia (+10.8% per year).

In value terms, Trinidad and Tobago ($X) constituted the largest supplier of urea to the Dominican Republic, comprising 75% of total imports. The second position in the ranking was held by the United States ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Trinidad and Tobago totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+45.8% per year) and Russia (+9.4% per year).

Import Prices by Country

The average urea import price stood at $X per ton in 2022, rising by 70% against the previous year. Over the period under review, the import price enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 an increase of 70%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 Trinidad and Tobago ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for urea in the world?

India constituted the country with the largest volume of urea consumption, comprising approx. 26% of total volume. Moreover, urea consumption in India exceeded the figures recorded by the second-largest consumer, China, threefold. The third position in this ranking was occupied by the United States, with a 5.9% share.

What are the largest producers of urea in the world?

The countries with the highest volumes of urea production in 2021 were India, China and Russia, with a combined 41% share of global production. Iran, Indonesia, Pakistan, Qatar, Saudi Arabia, Oman, Canada, the United Arab Emirates, Algeria and Vietnam lagged somewhat behind, together comprising a further 39%.

What are the leading suppliers of urea to the Dominican Republic?

In value terms, Trinidad and Tobago constituted the largest supplier of urea to the Dominican Republic, comprising 94% of total imports. The second position in the ranking was occupied by the United States, with a 2.7% share of total imports.

What are the leading importers of urea from the Dominican Republic?

In value terms, the largest markets for urea exported from the Dominican Republic were Haiti, Suriname and the United States, together accounting for 97% of total exports.

What is the average export price for urea in the Dominican Republic?

In 2021, the average urea export price amounted to $439 per ton, picking up by 20% against the previous year.

What is the average import price for urea in the Dominican Republic?

In 2021, the average urea import price amounted to $478 per ton, jumping by 70% against the previous year.

This report provides an in-depth analysis of the urea market in the Dominican Republic. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4001 -

Country coverage:

Dominican Republic

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Dominican Republic
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023