Report Update Apr 1, 2024

Dominican Republic - Benzoic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Dominican Republic: Benzoic Acid Market 2024

Benzoic Acid Market Size in the Dominican Republic

The Dominican benzoic acid market surged to $X in 2022, rising 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). Overall, consumption saw a strong expansion. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Benzoic Acid Exports

Exports from the Dominican Republic

In 2022, after two years of growth, there was significant decline in shipments abroad of benzoic acid, its salts and esters, when their volume decreased by X% to X tons. Overall, exports saw a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, benzoic acid exports plummeted to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Haiti (X tons) was the main destination for benzoic acid exports from the Dominican Republic, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Haiti amounted to X%.

In value terms, Haiti ($X) also remains the key foreign market for benzoic acid, its salts and esters exports from the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti amounted to X%.

Export Prices by Country

In 2022, the average benzoic acid export price amounted to $X per ton, which is down by X% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, benzoic acid export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Haiti.

From 2012 to 2022, the rate of growth in terms of prices for Trinidad and Tobago amounted to X% per year.

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Benzoic Acid Imports

Imports into the Dominican Republic

Benzoic acid imports into the Dominican Republic surged to X tons in 2022, rising by X% against the year before. In general, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, benzoic acid imports surged to $X in 2022. Overall, imports posted a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of benzoic acid to the Dominican Republic, with a X% share of total imports. Moreover, benzoic acid imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and the Netherlands (X% per year).

In value terms, China ($X) constituted the largest supplier of benzoic acid, its salts and esters to the Dominican Republic, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average benzoic acid import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for benzoic acid, its salts and esters in the world?

The countries with the highest volumes of consumption in 2022 were China, the United States and India, with a combined 41% share of global consumption. The Netherlands, Germany, Brazil, Japan, Estonia, Mexico, Turkey, South Korea, Italy and Saudi Arabia lagged somewhat behind, together comprising a further 35%.

What are the largest producers of benzoic acid, its salts and esters in the world?

The countries with the highest volumes of production in 2022 were China, the Netherlands and Estonia, together comprising 69% of global production. The United States, India, Japan and Saudi Arabia lagged somewhat behind, together comprising a further 21%.

What are the leading suppliers of benzoic acid, its salts and esters to the Dominican Republic?

In value terms, China constituted the largest supplier of benzoic acid, its salts and esters to the Dominican Republic, comprising 77% of total imports. The second position in the ranking was held by the United States, with a 14% share of total imports.

What are the leading importers of benzoic acid, its salts and esters from the Dominican Republic?

In value terms, Haiti remains the key foreign market for benzoic acid, its salts and esters exports from the Dominican Republic.

What is the average export price for benzoic acid, its salts and esters in the Dominican Republic?

The average benzoic acid export price stood at $2,038 per ton in 2022, declining by -13.3% against the previous year.

What is the average import price for benzoic acid, its salts and esters in the Dominican Republic?

In 2022, the average benzoic acid import price amounted to $2,263 per ton, rising by 21% against the previous year.

This report provides an in-depth analysis of the benzoic acid 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:

Prodcom 20143363 - Benzoic acid, its salts and esters

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
Find deeper insights into current market developments
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