Key Market Indicators
Singapore's synthetic rubber export market is projected to surge to approximately $2 billion by 2028, up from around $1.6 billion in 2023. This marks an average annual growth rate of 3.6%. Over the long term, since 1994, Singapore has seen a 6.3% yearly increase in synthetic rubber supply. In 2023, Singapore ranked seventh globally in synthetic rubber exports, with Russia leading the chart at $1.6 billion. Following Russia, Thailand, the United States, and Japan secured the second, third, and fourth positions, respectively. On the import front, Singapore's synthetic rubber imports are expected to climb to roughly $646 million by 2028, from about $536 million in 2023. This reflects a compound annual growth rate (CAGR) of 3%. Since 1994, the country's demand for synthetic rubber has risen by an average of 5.4% each year.
