The analysis of wages and salaries in the dyes and pigments sector in Finland shows a significant downward trend from 2013 to 2023. The sector experienced volatility with peaks and troughs, particularly pronounced between 2014 and 2020. A notable decline occurred in 2019 and 2020, followed by a partial recovery and then plateauing around 22.9 million euros in 2023.
Year-on-year variations highlight periods of substantial decline, for example, a 48.5% drop in 2020, and recovery periods reflected in a 60.83% increase in 2021. The five-year CAGR from 2019 to 2023 shows a negative trend at -7.71%.
Future forecasts suggest a continued decline with wages and salaries expected to decrease by 23.5% over the next five years, translating to a five-year CAGR of -5.22% by 2028.
Future trends to watch include economic policies affecting the manufacturing sector, technological advancements, automation impacting labor requirements, and global market dynamics influencing the demand for dyes and pigments. Strategic adaptations among firms in this sector will be crucial for managing wage fluctuations.
