The turnover in the rubber products manufacturing sector in Austria has experienced significant annual variations and a downward trend in recent years. In 2023, turnover stood at 402.0 million Euros. The sector saw a peak turnover of 614.1 million Euros in 2013, followed by fluctuating decreases including a noticeable decline by 12.01% in 2015. The compound annual growth rate (CAGR) from 2018 to 2023 is -6.54%, indicating continuous contraction.
Year-on-year, recent decade changes include a modest increase of 3.72% in 2013, while the most significant declines were -12.01% in 2015 and -9.65% in 2021. The future forecast anticipates a further downturn with the sector predicted to drop to 258.5 million Euros by 2028, a considerable decrease reflected in a forecasted five-year CAGR of -7% and an overall decline of -30.44% from 2024 to 2028.
Future trends to watch for include potential impacts of technological innovations, automation within manufacturing processes, and economic factors such as raw material costs and regulatory changes. Additionally, shifts towards sustainable and eco-friendly products could influence market dynamics and demand within the sector.
