In 2023, the turnover for the rubber products manufacturing sector in Belgium stood at 643.5 million Euros. From 2013 to 2023, the sector experienced fluctuations, seeing peaks in 2014 and 2017, but embarked on a continuous decline from 2017 onwards. The year-on-year variations have mostly been negative over the last two years, with a 3.93% drop in 2022 and a 3.7% decline in 2023.
The compound annual growth rate (CAGR) over the last five years (2019 to 2023) shows an average decline of 3.4% per year. Looking forward, the forecast indicates a continued decline at a 5-year CAGR of 2.4%, with an expected 11.45% drop in turnover by 2028.
Future trends to watch for in this sector include shifts in global demand for rubber products, changes in raw material costs, and technological advancements in manufacturing processes. Additionally, economic policies and environmental regulations could significantly impact the sector's performance.
