Key Market Indicators
**Seoul, South Korea -** The import of synthetic rubber in South Korea is projected to reach approximately $524 million by 2028, up from around $515 million in 2023. This marks an average annual growth rate of 0.4%. Korean demand for synthetic rubber has seen a steady rise, posting an annual increase of 0.8% since 1993. Meanwhile, South Korea's export of synthetic rubber is expected to soar to roughly $3.91 billion by 2028, a significant jump from $3.47 billion in 2023. This represents a compound annual growth rate (CAGR) of 1.9%. The country’s supply has been on an upward trajectory, growing by 2.3% annually since 1993. In the global market, Thailand, the United States, and Japan rank just behind South Korea, occupying the second, third, and fourth spots respectively in synthetic rubber exports.
