The plastics products turnover in Austria has exhibited a steady growth trend over the years, reaching 7.46 billion euros in 2023. From 2013 to 2023, the market showed an average annual growth of approximately 2.87%, with significant year-on-year variations such as a sharp 13.87% increase in 2018 and a notable 9.28% decline in 2020.
Between 2022 and 2023, the turnover saw a moderate increase of 2.24%, reflecting a slower pace compared to some previous years. Looking forward, the forecasted growth rate from 2024 to 2028 shows a compounded annual growth rate (CAGR) of 1.61% with an overall increase of 8.29% over the five-year period.
Future trends to watch for:
- Technological advancements in plastic production
- Stricter environmental regulations and shifts towards sustainable practices
- Fluctuations in raw material prices influencing manufacturing costs
- Increased demand for innovative and high-performance plastic products
