In 2023, Austria's chemical industry turnover stood at 18.12 Billion Euros. Forecasts from 2024 to 2028 show steady growth, reaching 22.68 Billion Euros by 2028. Year-on-year growth rates are as follows: 2024: 18.96 Billion Euros (+4.6%), 2025: 19.9 Billion Euros (+4.95%), 2026: 20.84 Billion Euros (+4.73%), 2027: 21.77 Billion Euros (+4.46%), and 2028: 22.68 Billion Euros (+4.19%). Over the last two years (2023-2024), the turnover increased by 4.6%. The Compound Annual Growth Rate (CAGR) for the period from 2023 to 2028 is approximately 4.57%.
Future trends to watch for include:
- Technological advancements in chemical processing
- Increased demand for sustainable and eco-friendly chemical products
- Regulatory changes impacting the chemical industry
- Global market fluctuations and their effects on export
