Dominican Republic: Plastic Closure Market 2024

Plastic Closure Market Size in the Dominican Republic

In 2022, the Dominican plastic closure market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw a noticeable decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Plastic Closure Exports

Exports from the Dominican Republic

In 2022, shipments abroad of plastic stoppers, caps and closures increased by X% to X tons, rising for the sixth consecutive year after two years of decline. Overall, exports saw a resilient expansion. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, plastic closure exports skyrocketed to $X in 2022. In general, exports saw a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons), Haiti (X tons) and Guyana (X tons) were the main destinations of plastic closure exports from the Dominican Republic, with a combined X% share of total exports. Jamaica, Costa Rica, Panama, Cuba and Guatemala lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Cuba (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from the Dominican Republic were the United States ($X), Haiti ($X) and Guyana ($X), with a combined X% share of total exports. Jamaica, Costa Rica, Guatemala, Panama and Cuba lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Cuba, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Cuba ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into the Dominican Republic

In 2022, purchases abroad of plastic stoppers, caps and closures was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic closure imports surged to $X in 2022. In general, total imports indicated a moderate increase from 2012 to 2022: its value 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons), Mexico (X tons) and Spain (X tons) were the main suppliers of plastic closure imports to the Dominican Republic, together accounting for X% of total imports. Costa Rica, China, El Salvador, Brazil, Colombia, the UK, Hungary, Guatemala, Turkey and Peru lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure suppliers to the Dominican Republic were the United States ($X), Mexico ($X) and Spain ($X), together comprising X% of total imports. China, Costa Rica, Brazil, the UK, El Salvador, Colombia, Hungary, Guatemala, Turkey and Peru lagged somewhat behind, together accounting for a further X%.

The UK, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average plastic closure import price amounted to $X per ton, standing approx. at the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 an increase of X%. The import price peaked at $X per ton in 2021, and then dropped in the following year.

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 UK ($X per ton), while the price for Turkey ($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 UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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