Based on the forecasted data, South Korea’s synthetic rubber exports are expected to grow steadily from 2024 to 2028, starting at 3.5541 billion USD in 2024 and reaching 3.9064 billion USD in 2028. Assuming that the export value for 2023 stood at 3.465 billion USD, the year-on-year variations highlight a consistent upward trend with a growth percentage in the vicinity of 3% annually.
The Compound Annual Growth Rate (CAGR) over the five-year forecast period from 2024 to 2028 is estimated to be around 2.4%, indicating a stable and moderate increase in export volumes.
Future trends to watch for include potential fluctuations in global demand for synthetic rubber, shifts in raw material prices, and advancements in synthetic rubber technology which could influence production costs and export capabilities. Changes in trade policies or economic conditions in South Korea's key export markets could also significantly impact these projections.
