Dominican Republic: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in the Dominican Republic

The Dominican market for petroleum lubricating oil and grease rose sharply to $X in 2023, increasing by X% against the previous year. Overall, consumption recorded a prominent increase. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Petroleum Lubricating Oil And Grease in the Dominican Republic

In value terms, petroleum lubricating oil and grease production amounted to $X in 2023 estimated in export price. Over the period under review, production posted strong growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Petroleum lubricating oil and grease production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Petroleum Lubricating Oil And Grease

Exports from the Dominican Republic

In 2023, overseas shipments of petroleum lubricating oil and grease increased by X% to X kg for the first time since 2019, thus ending a three-year declining trend. Overall, exports, however, recorded a significant contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports surged to $X in 2023. Over the period under review, exports, however, saw a precipitous curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

The United States (X kg) and Haiti (X kg) were the main destinations of petroleum lubricating oil and grease exports from the Dominican Republic.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%).

In value terms, the United States ($X) and Haiti ($X) were the largest markets for petroleum lubricating oil and grease exported from the Dominican Republic worldwide.

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2023, surging by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Imports of Petroleum Lubricating Oil And Grease

Imports into the Dominican Republic

In 2023, approx. X tons of petroleum lubricating oil and grease were imported into the Dominican Republic; growing by X% on 2022. In general, imports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports skyrocketed to $X in 2023. Overall, imports showed a measured increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Canada (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of petroleum lubricating oil and grease imports to the Dominican Republic, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of petroleum lubricating oil and grease to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Germany (X% per year).

Import Prices by Country

In 2023, the average import price for petroleum lubricating oil and grease amounted to $X per ton, growing by X% against the previous year. Overall, the import price enjoyed buoyant growth. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform