The import of Acrylonitrile-Butadiene Rubber (NBR) Latex to Indonesia has shown notable growth from 2013 to 2023, increasing steadily from $19.871 million to $63.056 million. Specifically, the year-on-year growth rate has witnessed significant fluctuations, with a notable surge in 2017 at 54.95% and a substantial decline in 2020 at -12.03%. However, the recent years (2022 and 2023) show more stable growth at 5.14% and 4.79%, respectively. The last recorded 5-year CAGR (2018-2023) stands at 7.76%, indicating a consistent upward trend over the medium term.
Future projections from 2024 to 2028 anticipate a continued increase, reaching up to $78.128 million. The forecasted 5-year CAGR is estimated at 3.36%, with an overall 5-year growth rate of approximately 17.97%. This suggests a moderate yet steady growth rate moving forward.
Future trends to watch for include potential market disruptions, shifts in demand from industries utilizing NBR latex, and global economic factors that could impact import values. Additionally, innovations in synthetic rubber and varying import-export policies could also influence future trends.
