Dominican Republic: Glass Fiber Market 2024

Glass Fiber Market Size in the Dominican Republic

In 2021, the Dominican glass fiber market decreased by -15.7% to $X, falling for the second year in a row after two years of growth. Overall, consumption recorded a perceptible decrease. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Glass Fiber Exports

Exports from the Dominican Republic

In 2021, exports of voiles, webs, mats and other articles of glass fibers from the Dominican Republic skyrocketed to X tons, jumping by 349% compared with the previous year. In general, exports, however, saw a abrupt descent. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fiber exports soared to $X in 2021. Overall, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2017 when exports increased by 248% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for glass fiber exports from the Dominican Republic, accounting for a 73% share of total exports. Moreover, glass fiber exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was held by Antigua and Barbuda (X kg), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Haiti stood at +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+66.3% per year) and Antigua and Barbuda (+234.4% per year).

In value terms, Haiti ($X) remains the key foreign market for voiles, webs, mats and other articles of glass fibers exports from the Dominican Republic, comprising 71% of total exports. The second position in the ranking was taken by the United States ($X), with a 13% share of total exports. It was followed by El Salvador, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to Haiti was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+56.7% per year) and El Salvador (0.0% per year).

Export Prices by Country

In 2021, the average glass fiber export price amounted to $X per ton, waning by -31.7% against the previous year. Over the period under review, the export price recorded a mild descent. The pace of growth appeared the most rapid in 2013 when the average export price increased by 31%. As a result, the export price attained the peak level of $X per ton. From 2014 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 Cuba ($X per ton), while the average price for exports to the United States ($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 Peru (+47.7%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into the Dominican Republic

In 2021, purchases abroad of voiles, webs, mats and other articles of glass fibers decreased by -18.6% to X tons, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a pronounced decrease. The pace of growth was the most pronounced in 2018 with an increase of 43%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, glass fiber imports dropped to $X in 2021. In general, imports recorded a noticeable decline. The pace of growth appeared the most rapid in 2016 with an increase of 65%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glass fiber to the Dominican Republic, accounting for a 43% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.0% per year) and Russia (0.0% per year).

In value terms, the United States ($X), China ($X) and Mexico ($X) were the largest glass fiber suppliers to the Dominican Republic, together comprising 84% of total imports. These countries were followed by Russia, Colombia, South Korea and Turkey, which together accounted for a further 11%.

Turkey, with a CAGR of +35.3%, 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 mixed trend patterns.

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, rising by 8.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 48%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Russia ($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 (+10.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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