Key Market Indicators
Kuwait’s synthetic rubber export industry is poised for significant growth, with projections indicating a rise to approximately $965,000 by 2028. This marks an increase from around $738,000 in 2023, reflecting a compound annual growth rate (CAGR) of 4.3%. Since 2011, Kuwait's synthetic rubber supply has seen a modest year-on-year increase of 1.1%. In 2023, Kuwait ranked 48th globally in synthetic rubber exports, with Belarus surpassing it at the same value. Leading the rankings were Thailand, the United States, and Japan, occupying the second, third, and fourth positions respectively. On the import front, Kuwait's synthetic rubber imports are expected to reach about $10.4 million by 2028, up from approximately $8.8 million in 2023. This growth represents an average annual increase of 2.6%. Since 2011, the country's demand for synthetic rubber has been rising steadily, with an average annual growth rate of 2.3%.
