Synthetic Resin and Synthetic Rubber Manufacturing in Australia - Industry Market Research Report

Synthetic Resin and Synthetic Rubber Manufacturing in Australia - Industry Market Research Report

Synthetic Resin and Synthetic Rubber Manufacturing in Australia

Synthetic resin and synthetic rubber manufacturers have faced challenging operating conditions, with sales figures diminishing over the past few years. Declines across key downstream manufacturing industries and high import penetration have hindered the industry's growth. The COVID-19 pandemic further reduced revenue and demand for synthetic resin and synthetic rubber goods from 2019-20 to 2020-21. Many products are used as raw material and intermediate inputs in a variety of downstream markets, including in the construction and manufacturing divisions. Product volumes often reflect domestic demand derived from these key markets. Prices for key inputs like plastic and rubber products, crude oil and natural gas are set to decline. In turn, demand from polymer product manufacturers is set to climb. Despite this, synthetic resin and synthetic rubber manufacturing revenue is expected to fall at an annualised 2.2% over the five years through 2023-24 to total $2.5 billion. This trend includes an anticipated drop of 2.2% in 2023-24.

Companies in the industry manufacture synthetic resins and synthetic rubber. Industry manufacturing includes mixing and blending resins and polymeric materials. Key products include synthetic resins, non-vulcanisable elastomers, and synthetic rubbers and blends. Industry products are sold to downstream industries, like packaging, chemical, construction and transportation firms.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.