The value added of chemicals manufacturing in Belgium stood at 9.64 billion Euros in 2023. Over the period from 2013 to 2023, the sector experienced significant fluctuations. Notable increases were observed in 2014 (6.87%), 2015 (13.13%), 2017 (7.53%), and 2021 (9.63%). Conversely, decreases occurred in 2016 (-8%), 2019 (-6.78%), and 2020 (-0.93%). The compound annual growth rate (CAGR) over the last five years is 0.94%. The trend from 2024 to 2028 forecasts a steady growth with a five-year CAGR of 1.25%, indicating a moderate yet consistent upward trajectory, reaching 10.43 billion Euros by 2028.
Future trends to watch:
- Emerging technologies and innovation in chemical processes could boost productivity.
- Global economic conditions and regulatory changes will impact growth rates.
- Sustainability initiatives and the shift towards green chemistry may reshape the industry.
