Analyzing the export of synthetic rubber from Saudi Arabia from 2013 to 2023 shows significant growth, primarily characterized by substantial increases in 2016 (188.22%) and 2017 (449.8%). From 2018, growth has been relatively steadier, with a notable dip in 2020 (-10.33%) likely due to global disruptions. By 2023, the export value reached 219.92 million USD, reflecting a year-on-year increase of 6.12%. The last 5-year CAGR stands at 5.8%.
Forecasts from 2024 indicate a continued upward trend, with a 5-year CAGR projected at 4.14%, signifying sustained, albeit slower, growth. By 2028, the export value is expected to reach 285.55 million USD, representing a 22.48% increase over the forecast period.
Future trends to watch include:
- Global market demand dynamics affecting synthetic rubber.
- Technological advancements and their impact on production efficiency.
- Economic policies and trade relations influencing Saudi Arabia's export capabilities.
