Key Market Indicators
In a dramatic downturn, British synthetic rubber exports plummeted to approximately $2.4 million in 2023, marking an 87% decrease from the $18 million recorded in 2022. This decline represents a 52% year-on-year drop in British supply since 1998. The United Kingdom now ranks 42nd globally in synthetic rubber exports, with Norway taking the lead at $2.4 million. Thailand, the United States, and Japan occupy the second, third, and fourth positions, respectively. On the import front, British synthetic rubber imports are projected to decline slightly, reaching around $253 million by 2028 from the current $272 million in 2023. This represents an annual decrease of 1.1% in compound annual growth rate (CAGR). Since 1998, British demand for synthetic rubber has fallen by 1.9% year on year.
