The UK's production of synthetic rubber (excluding latex) experienced fluctuations from 2013 to 2023. Notably, 2018 marked a peak with a significant surge, followed by volatility. In 2023, production stood at approximately 176 million kilograms, reflecting modest growth. Over recent years, the compounded annual growth rate (CAGR) revealed a downward trend at -2.7%, indicating a slowdown.
Forecasts for 2024 onwards predict stability with minor increases, implying a cautious growth outlook, reflected by a forecasted CAGR of 0.2% through to 2028.
Future trends to watch:
- Technological advancements in synthetic rubber production processes.
- Environmental regulations influencing production and demand.
- Market demand shifts due to automotive and industrial sectors.
