Synthetic rubber production in China stood at 903.99 ten thousand metric tons in 2023. Historical analysis reveals that production exhibited significant growth from 2013 to 2024, with noticeable annual fluctuations. For instance, the year-on-year variation was substantial in 2014 at 14.34%, followed by a decline in 2015. Growth resumed uniquely in 2018, with a notable 16.77% increase. From 2019 onwards, stable growth resumed despite minor slowdowns in certain years. The latest data from 2023 signifies a 5.34% year-on-year increase, aligning with a five-year CAGR of 5.51%.
Forecasted data anticipates continued growth, projecting synthetic rubber production to reach 1130.0 ten thousand metric tons by 2028. The forecasted 5-year CAGR is expected to be 3.48%, reflecting a slower, yet stable growth rate compared to historical data.
Future trends to watch for include:
- Advancements in synthetic rubber technologies and production efficiencies.
- Potential impacts of environmental regulations on production methods and volume.
- Shifts in global demand, particularly driven by the automotive and industrial sectors.
- Economic policies and trade relations affecting raw material availability and pricing.
