Dominican Republic: Lubricant Additives Market 2024

Lubricant Additives Market Size in the Dominican Republic

In 2022, the Dominican lubricant additives market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Exports

Exports from the Dominican Republic

In 2022, shipments abroad of prepared additives for mineral oils increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, lubricant additives exports surged to $X in 2022. Overall, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Venezuela (X tons), Saint Vincent and the Grenadines (X tons) and Jamaica (X tons) were the main destinations of lubricant additives exports from the Dominican Republic, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Venezuela (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Jamaica ($X), Venezuela ($X) and the United States ($X) were the largest markets for lubricant additives exported from the Dominican Republic worldwide, together accounting for X% of total exports.

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

Export Prices by Country

The average lubricant additives export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced setback. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Trinidad and Tobago ($X per ton), while the average price for exports to Saint Vincent and the Grenadines ($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 Trinidad and Tobago (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into the Dominican Republic

For the third year in a row, the Dominican Republic recorded growth in supplies from abroad of prepared additives for mineral oils, which increased by X% to X tons in 2022. Overall, imports saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives imports soared to $X in 2022. In general, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest lubricant additives supplier to the Dominican Republic, accounting for a X% share of total imports. Moreover, lubricant additives imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of prepared additives for mineral oils to the Dominican Republic, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports. It was followed by China, with a X% share.

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

Import Prices by Country

The average lubricant additives import price stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2019 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, 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 Switzerland ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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