Dominican Republic: Abrasives Market 2022

Abrasives Market Size in the Dominican Republic

The Dominican abrasives market soared to $X in 2021, increasing by X% 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 posted resilient growth. Abrasives consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Abrasives Exports

Exports from the Dominican Republic

In 2021, shipments abroad of abrasives (natural) increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, abrasives exports soared to $X in 2021. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Hong Kong SAR (X tons), the United States (X tons) and India (X tons) were the main destinations of abrasives exports from the Dominican Republic, with a combined X% share of total exports.

From 2012 to 2021, the biggest increases were in Hong Kong SAR (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for abrasives exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was occupied by the United States ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+X% per year) and India (+X% per year).

Export Prices by Country

In 2021, the average abrasives export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price showed significant growth. The pace of growth was the most pronounced in 2013 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Haiti ($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 Hong Kong SAR (+X%), while the prices for the other major destinations experienced a decline.

Abrasives Imports

Imports into the Dominican Republic

In 2021, supplies from abroad of abrasives (natural) increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, imports saw slight growth. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, abrasives imports soared to $X in 2021. Overall, imports continue to indicate resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

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

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-X% per year) and Australia (X% per year).

In value terms, Italy ($X), the United States ($X) and Mexico ($X) appeared to be the largest abrasives suppliers to the Dominican Republic, with a combined X% share of total imports.

Among the main suppliers, Italy, with a CAGR of +X%, saw the highest rates of growth with regard to 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

The average abrasives import price stood at $X per ton in 2021, dropping by -X% against the previous year. Over the period under review, the import price, however, continues to indicate noticeable growth. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform