The synthetic rubber market in Sweden stood at 32.578 million kilograms in 2023. Over the past two years, the market experienced a decline with a year-on-year variation of -3.11% in 2022 and -3.18% in 2023. Over the last five years, from 2019 to 2023, the market showed a steady decrease with a Compound Annual Growth Rate (CAGR) of -3.5%. Looking ahead, the market is forecasted to further decline with a projected CAGR of -2.77% from 2024 to 2028, resulting in an estimated market size of 27.383 million kilograms by 2028. This corresponds to a total decrease of approximately 13.12% over the forecast period.
Future trends to watch in the synthetic rubber market include advancements in sustainable and bio-based rubber alternatives, regulatory changes impacting production and usage, and potential market shifts due to evolving automotive industry needs, especially with the rise of electric vehicles. These factors could influence market dynamics and potentially offset the forecasted decline.
