The value added of chemicals manufacturing in Australia was 6.26 billion Australian dollars in 2023. Over the year-on-year analysis, we saw a modest rise of 0.3% in 2023. This comes after several fluctuations over the past decade, including notable declines in 2015 and 2016, negative growth in 2018, and an increase in 2019. The compound annual growth rate (CAGR) for the last five years stands at approximately 3.19%.
Key future trends to watch for include:
- Emerging sustainability practices in chemical manufacturing.
- Adoption of advanced technologies and automation in production processes.
- Potential regulatory changes affecting the industry.
