The value added of chemicals manufacturing in Norway for the year 2024 is forecasted to be 18.51 billion Norwegian Krones (BNOK). This represents a continuation of the industry’s growth trajectory from previous years. Comparing the forecasted figure with the value for 2023, which stood at 18.08 BNOK, shows a year-on-year growth of approximately 2.4%. Moving forward to 2025, the forecasted value is 18.97 BNOK, indicating a year-on-year increase of approximately 2.5%. The successive yearly forecasts for 2026, 2027, and 2028 show consistent growth with values of 19.43, 19.89, and 20.34 BNOK respectively, reflecting year-on-year increases of around 2.4%, 2.4%, and 2.3%. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is expected to be about 2.4%.
Future trends to watch for in the chemicals manufacturing sector in Norway include advancements in green chemistry and sustainable manufacturing practices, potential impacts of regulatory changes, technological innovations such as automation and digitalization, and shifts in global supply chains due to geopolitical factors. These trends could significantly influence the industry's value-added trajectory in the coming years.
