The import value of natural rubber and gums to India is projected to grow steadily from 2024 to 2028, starting at approximately $1.08 billion in 2024 and reaching about $1.21 billion by 2028. This marks a consistent year-on-year increase: 3.14% from 2024 to 2025, 2.99% from 2025 to 2026, 2.85% from 2026 to 2027, and finally 2.70% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) for this period is approximately 2.92%.
In 2023, the import value was notably lower, indicating a positive growth trajectory. As India's industrial and automotive sectors expand, the demand for natural rubber is expected to rise, supporting this upward trend.
Future trends to monitor include:
- Fluctuations in global rubber production and prices.
- India's domestic production capabilities and policies affecting imports.
- Technological advancements in synthetic rubber alternatives.
- Environmental regulations impacting rubber production and trade.
