The plastics products turnover in Germany has shown a steady upward trend from 2013 to 2023, starting at €63.21 billion and peaking at €80.61 billion in 2023. Despite a few years of decline, particularly notable in 2019 and 2020, the overall trend remains positive. The year-on-year variations have fluctuated, with 2020 experiencing a significant drop of -5.22% due to broader market disruptions, while other years, such as 2018, saw a high increase of 7.9%. Over the past two years (2021-2023), the market has recovered well with stable growth rates; the year-on-year variation for 2023 stands at 2.25%.
Looking at the compound annual growth rate (CAGR) over the last five years (2018-2023), it remains relatively modest at 1.03%, indicating a stable but slow recovery. The forecast suggests a continued positive trend with the turnover expected to reach €89.21 billion by 2028, implying a forecasted 5-year CAGR of 1.61% and a 5-year growth rate of 8.31%.
Future trends to watch for include the impact of sustainability initiatives, technological advancements in recycling, and global economic factors affecting raw material costs. Additionally, regulatory changes regarding plastic usage and innovations in biodegradable alternatives may significantly influence the market dynamics.
