Dominican Republic: Tyre Cord Fabric Market 2022

Tyre Cord Fabric Market Size in the Dominican Republic

In 2021, the Dominican tyre cord fabric market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption continues to indicate a significant expansion. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Tyre Cord Fabric Exports

Exports from the Dominican Republic

Tyre cord fabric exports from the Dominican Republic rose notably to X kg in 2021, with an increase of 8.3% compared with the year before. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 when exports increased by 136% against the previous year. The exports peaked at X kg in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, tyre cord fabric exports declined slightly to $X in 2021. Overall, exports enjoyed pronounced growth. The most prominent rate of growth was recorded in 2018 with an increase of 183% against the previous year. The exports peaked at $X in 2020, and then reduced modestly in the following year.

Exports by Country

The United States (X kg), Barbados (X kg) and Haiti (X kg) were the main destinations of tyre cord fabric exports from the Dominican Republic.

From 2012 to 2021, the biggest increases were in Barbados (with a CAGR of +4,300.0%), while shipments for the other leaders experienced a decline.

In value terms, Barbados ($X), Haiti ($X) and the United States ($X) were the largest markets for tyre cord fabric exported from the Dominican Republic worldwide.

In terms of the main countries of destination, Barbados, with a CAGR of +6,660.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average tyre cord fabric export price stood at $X per ton in 2021, which is down by -9.4% against the previous year. Over the period under review, the export price, however, saw buoyant growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 44% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Haiti ($X per ton), while the average price for exports to the United States ($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 Barbados (+68.7%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Cord Fabric Imports

Imports into the Dominican Republic

In 2021, the amount of tyre cord fabric of high tenacity yarn imported into the Dominican Republic skyrocketed to X tons, with an increase of 144% compared with the year before. Overall, imports showed a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 260%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, tyre cord fabric imports soared to $X in 2021. Over the period under review, imports enjoyed a significant increase. The growth pace was the most rapid in 2018 with an increase of 197%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest tyre cord fabric supplier to the Dominican Republic, accounting for a 88% share of total imports. Moreover, tyre cord fabric imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), ninefold. The third position in this ranking was taken by Italy (X tons), with a 1.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +86.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.8% per year) and Italy (+13.6% per year).

In value terms, China ($X) constituted the largest supplier of tyre cord fabric to the Dominican Republic, comprising 88% of total imports. The second position in the ranking was held by the United States ($X), with an 8.5% share of total imports. It was followed by Italy, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +67.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.2% per year) and Italy (+9.0% per year).

Import Prices by Country

The average tyre cord fabric import price stood at $X per ton in 2021, falling by -9.2% against the previous year. Over the period under review, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 15%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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