Key Market Indicators
Thailand's synthetic rubber export market is projected to soar to approximately $4.2 billion by 2028, up from around $3.3 billion in 2023. This marks an annual growth rate of 3.8%, according to recent data. Since 1994, Thailand's supply of synthetic rubber has seen a steady annual increase of 6.1%. In 2023, Thailand ranked second globally in synthetic rubber exports, trailing behind South Korea, which also posted exports worth roughly $3.3 billion. The United States and Japan followed in third and fourth places, respectively. On the import side, Thailand's synthetic rubber imports are expected to climb to about $1.6 billion by 2028, from $1.4 billion in 2023, reflecting an average annual growth rate of 2.1%. Since 1993, the country's demand for synthetic rubber has risen by an average of 2.8% each year.
