From 2013 to 2023, the sold production of synthetic rubber (excluding latex) in Denmark has experienced fluctuations. After witnessing a substantial rise in value from 2013 to 2014 by 12.12%, the trend saw a significant drop in 2015, followed by a relatively gradual rise till 2019. The year 2020 marked a drastic reduction of 38.76%, but an extraordinary growth occurred in 2021 with a 151.88% increase. The years 2022 and 2023 showcased variability with a decrease of 36.11% followed by a rise of 15.28%. In 2023, the value stood at €2.5103 million.
Future forecasts predict a steady upward trajectory with an anticipated average growth rate (CAGR) of 4.01% per annum, resulting in a growth rate of 21.74% over the next five years. By 2028, the value is expected to reach €3.2363 million.
Future Trends to Watch:
- Technological advancements in synthetic rubber production processes.
- Increasing demand from the automotive and manufacturing sectors.
- Potential economic or environmental regulations affecting production.
- Impact of global supply chain dynamics on raw material availability and costs.
