In 2023, the export of synthetic rubber from Australia stood at a pivotal point, with subsequent years showing a modest but steady upward trend. The projected value for 2024 is $5.9754 million, rising to $6.2991 million by 2028.
The year-on-year variation indicates a consistent increase:
- 2024: +1.39%
- 2025: +1.40%
- 2026: +1.42%
- 2027: +1.41%
- 2028: +1.41%
The average annual growth rate (CAGR) over this five-year period is projected to be approximately 1.41%.
Future trends to watch for include potential impacts of global economic shifts, advancements in synthetic rubber technology, and Australia's trade relations, particularly with major importers. Additionally, market demand in related industries such as automotive and manufacturing will play a crucial role in shaping future export values.