The export of synthetic rubber from Spain shows a varied trend over the past decade. 2013 saw a value of 325.14 million USD, but by 2023 it had only modestly increased by 1.87% to 317.42 million USD, reflecting an average annual growth rate (CAGR) of just 0.66%. The period between 2013 and 2023 was marked by fluctuations, including significant drops in 2014 and 2015, and a major rebound in 2018. Year-on-year variations were notable, with a peak growth of 29.77% in 2018 but a decline of 15.25% in 2020.
Looking forward, from 2024 to 2028, the export value is expected to rise from 322.75 million USD to 347.01 million USD, reflecting a CAGR of 1.46% and an overall growth rate of 7.52% over the five years. These forecasts suggest a steady but modest growth trend for Spain's synthetic rubber exports.
Future trends to watch for:
- Potential impacts of global market conditions on synthetic rubber demand
- Technological advancements that could affect production efficiency and costs
- Shifts in trade policies affecting international exports
- Innovations in alternative materials and their effects on market demand
