In 2023, the import of synthetic rubber (excluding latex) to the UK stood at X million kilograms. From 2024 onwards, the forecasted import volume is set to decrease steadily from 68.656 million kilograms to 58.843 million kilograms by 2028. This reflects a consistent year-on-year decrease, with the largest drop being between 2027 and 2028. The compound annual growth rate (CAGR) over the five-year forecast period suggests an average annual decline in volume.
Future trends to watch for include:
- Technological advancements in synthetic rubber alternatives.
- Shifts in global trade policies impacting the supply chain.
- Increased emphasis on sustainable and eco-friendly materials potentially reducing demand for synthetic rubber.
- Volatility in the automobile industry which heavily relies on synthetic rubber.
