The import of synthetic rubber to the US is projected to grow steadily from 2024 to 2028. The year-on-year growth rates forecasted for the period show a consistent upward trend. Specifically, imports are expected to increase marginally each year with the following year-on-year variations: from 2024 to 2025, the growth is forecasted to be 1.14%; from 2025 to 2026, it is 1.11%; from 2026 to 2027, it is 1.07%; and from 2027 to 2028, the increase is 1.04%. Over the entire forecast period, the Compound Annual Growth Rate (CAGR) averages out to approximately 1.09% per year, indicating a stable yet moderate increase in the import value of synthetic rubber.
In 2023, the actual import value of synthetic rubber stood at 1.696 billion US dollars.
Future trends to watch for include potential fluctuations in global supply chains, advancements in synthetic rubber production technologies, and changes in demand from key industries such as automotive and manufacturing. Additionally, geopolitical dynamics and trade policies will play crucial roles in shaping the import landscape.
