Key Market Indicators
Azerbaijan's synthetic rubber import is projected to decline by 2028. The country is expected to import approximately $1.52 million worth of synthetic rubber, down from $1.70 million in 2023. This marks an average annual decrease of 1.7%. The trend is consistent with a longer-term decline, as Azerbaijani demand has fallen by 3.4% annually since 2001. On the export front, Azerbaijan saw a significant drop in 2023. The country's synthetic rubber export value plummeted to around $8,000 from nearly $13,000 in 2022, a sharp decline of 38.1%. This continues a downward trend observed since 2001, where Azerbaijani supply has decreased by 41.8% annually. In 2023, Azerbaijan ranked 75th in synthetic rubber exports, with Zimbabwe surpassing it at the same export value of approximately $8,000. Globally, Thailand, the United States, and Japan were the top three exporters in this category.
