Dominican Republic: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in the Dominican Republic

The Dominican vulcanised rubber thread market surged to $X in 2021, growing by 80% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a pronounced curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Vulcanised Rubber Thread Exports

Exports from the Dominican Republic

In 2021, shipments abroad of vulcanised rubber thread and cord increased by 26% to X tons, rising for the second consecutive year after five years of decline. Overall, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 74%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber thread exports surged to $X in 2021. In general, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 76%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Haiti (X tons) and Cuba (X tons) were the main destinations of vulcanised rubber thread exports from the Dominican Republic.

From 2012 to 2021, the biggest increases were recorded for Cuba (with a CAGR of +23.3%).

In value terms, Haiti ($X) remains the key foreign market for vulcanised rubber thread and cord exports from the Dominican Republic, comprising 69% of total exports. The second position in the ranking was held by Cuba ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Haiti totaled -10.9%.

Export Prices by Country

The average vulcanised rubber thread export price stood at $X per ton in 2021, with an increase of 35% against the previous year. Overall, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber thread export price decreased by -9.1% against 2016 indices. The growth pace was the most rapid in 2016 an increase of 81% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to Cuba stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+7.2%).

Vulcanised Rubber Thread Imports

Imports into the Dominican Republic

In 2021, imports of vulcanised rubber thread and cord into the Dominican Republic skyrocketed to X tons, increasing by 58% against the previous year. Over the period under review, imports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2019 when imports increased by 88% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, vulcanised rubber thread imports skyrocketed to $X in 2021. Overall, imports, however, recorded a perceptible reduction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of vulcanised rubber thread to the Dominican Republic, accounting for a 76% share of total imports. Moreover, vulcanised rubber thread imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), tenfold. The third position in this ranking was taken by Malaysia (X tons), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+56.2% per year) and Malaysia (+25.8% per year).

In value terms, the United States ($X) constituted the largest supplier of vulcanised rubber thread and cord to the Dominican Republic, comprising 74% of total imports. The second position in the ranking was held by China ($X), with an 8.4% share of total imports. It was followed by Thailand, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+55.1% per year) and Thailand (+11.9% per year).

Import Prices by Country

In 2021, the average vulcanised rubber thread import price amounted to $X per ton, surging by 17% against the previous year. In general, the import price, however, showed a slight decline. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were China ($X per ton) and Thailand ($X per ton), while the price for Malaysia ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+15.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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