The sold production of synthetic rubber in the UK has seen significant variation since 2013. Initially, there was a substantial decline from 2013 to 2016, where the lowest point was in 2016. This was followed by a noticeable recovery and peak in 2018. However, fluctuations continued with a notable dip in 2020 due to the pandemic's impact, then a moderate recovery leading up to 2023. In 2023, the sold production stood at 324.36 million Euros.
Year-over-year variation from 2022 to 2023 indicates a slight decline of -1.36%. Over the past five years, the compound annual growth rate (CAGR) averaged at -3.15%. The forecast for the next five years predicts a slight decrease with a CAGR of -1.17%, culminating in a projected value of 300.1 million Euros by 2028.
Future trends to watch for:
- The influence of global economic conditions on demand for synthetic rubber
- Technological advancements and innovations within the synthetic rubber industry
- Environmental regulations impacting production processes and costs
- Competitive dynamics and market consolidation
