From 2013 to 2023, China's rubber and plastic products exports to the US demonstrated fluctuating growth. After a decline of 8.9% in 2016, export values recovered, hitting 23.478 billion USD in 2023. The average annual growth rate (CAGR) over the past five years is 2.24%. This reflects moderate growth despite notable yearly fluctuations such as an 18.04% rise in 2021 and a slight 2.83% increase in 2023.
Forecasts predict continued growth, with export values reaching approximately 26.787 billion USD by 2028. The forecasted CAGR for the next five years stands at 2.13%, suggesting steady but moderate growth.
Future trends to watch for:
- Potential impact of trade policies and tariffs between the US and China on export volumes.
- Advancements in material technology and their influence on production efficiency and export competitiveness.
- Changes in global demand for sustainable and recyclable rubber and plastic products.
- Shifts in supply chain dynamics due to geopolitical factors and global economic conditions.