From 2013 to 2023, the export value of synthetic rubber from Canada experienced a significant downward trend, dropping from $468.54 million in 2013 to $195.83 million in 2023. Over this period, the annual variation rates fluctuated, with the most substantial decreases occurring between 2013 and 2015. The last two years have seen modest changes, with a 4.28% decline in 2023. The Compound Annual Growth Rate (CAGR) over the last five years shows an average annual decrease of around 5.05%.
Looking forward, the forecast indicates a continuation of this declining trend, with the export value expected to reach $149.48 million by 2028. This forecasted period suggests a further average annual decrease of approximately 4.22%.
Future trends to watch for include possible impacts from technological advancements in the production of synthetic rubber, shifts in global demand, and changes in trade policies that could influence export levels. Additionally, the adoption of sustainable and eco-friendly product alternatives may also affect future export values.
