The import of synthetic rubber to Australia is projected to experience a steady increase over the next five years. In 2023, the import value stood at 113.46 million USD. From 2024 onwards, forecasted values show a continual rise, with figures of 116.21 million USD in 2024, 118.63 million USD in 2025, and reaching 125.6 million USD by 2028. The year-on-year variations over the last two years were 2.42% for 2024 and 2.09% for 2025. The compounded annual growth rate (CAGR) over the last five years is observed at 2.01%.
Future trends to watch for:
- Technological advancements in synthetic rubber production which might influence import dependency.
- Global trade policies and their impact on Australia's import dynamics.
- Shifts in domestic demand driven by automotive and industrial sectors.
- Sustainability trends leading to innovations in synthetic rubber alternatives.