Chile's import of mixtures of natural and synthetic rubbers has shown significant variation over the past decade, with notable peaks and troughs. In 2023, the import value stood at $98.53 thousand USD, reflecting a 6.09% year-on-year increase from 2022. The import values experienced dramatic fluctuations, particularly in 2017 (414.04% YoY) and 2018 (721.79% YoY), highlighting periods of intense demand. From 2020 to 2023, the Compound Annual Growth Rate (CAGR) was -5.24%, signaling a slight correction after exceptionally high import values in prior years.
Looking forward, imports are forecasted to grow steadily, with a CAGR of 3.85% over the next five years, reaching $125.15 thousand USD by 2028. This suggests a stable but moderate increase in demand, contrasting with the volatility observed in the past decade.
Future trends to watch for include:
- Global economic conditions affecting rubber demand and supply.
- Technological advancements in synthetic rubber production.
- Changes in Chile's industrial policies and import regulations.
- Fluctuations in raw material prices and availability.
