Key Market Indicators
Indonesia’s synthetic rubber export market is poised for significant growth, projected to hit approximately $457 million by 2028. This marks an increase from around $366 million in 2023, reflecting an average annual growth rate of 3.5%. Since 1994, Indonesia’s synthetic rubber supply has surged by an average of 10.8% annually. However, in 2023, the country ranked 14th globally, with Italy overtaking it at the same value of $366 million. Leading the rankings were Thailand, the United States, and Japan, securing the second, third, and fourth spots, respectively. On the import side, Indonesia’s synthetic rubber market is also expanding. Imports are expected to reach about $912 million by 2028, up from roughly $820 million in 2023. This growth corresponds to an average annual increase of 1.7%. Historical data since 1994 shows Indonesian demand for synthetic rubber has risen by 2.6% each year.
