Key Market Indicators
New Zealand's synthetic rubber export industry witnessed a sharp decline in 2023, with total exports dropping to approximately $62,000. This marks a significant decrease of 23.5% compared to the $81,000 exported in 2022. The trend reflects a long-term contraction, as New Zealand's supply of synthetic rubber has been falling by an average of 17.6% annually since 1994. In the global ranking for synthetic rubber exports in 2023, New Zealand secured the 63rd position. Israel edged out New Zealand by recording exports valued at the same figure of around $62,000. The top spots were dominated by Thailand, the United States, and Japan, which ranked 2nd, 3rd, and 4th respectively. On the import side, New Zealand's demand for synthetic rubber is projected to slightly decrease over the next five years. Imports are expected to reach about $21.1 million by 2028, down from $21.5 million in 2023. This represents a modest annual decline rate of 0.2%. Conversely, since 1994, New Zealand's import demand for synthetic rubber has seen a slight upward trend, growing by 0.7% year on year.
