The value added of chemicals manufacturing in Sweden has shown a general upward trend since 2013, despite experiencing some fluctuations. After peaking in 2019 at 32.31 billion SEK, the sector faced a decline in 2020 to 28.82 billion SEK due to the COVID-19 pandemic. However, the market rebounded quickly, reaching 34.53 billion SEK in 2023, exhibiting a year-on-year growth rate of 5.28%. The five-year compounded annual growth rate (CAGR) from 2019 to 2023 stands at 2.89%.
From 2024 onwards, the value is forecasted to grow continuously, reaching 39.43 billion SEK in 2028. The projected five-year CAGR from 2024 to 2028 is 2.11%, indicating sustained growth but at a slightly moderated pace compared to the recent past.
Trends over the last five years (2019-2023):
- Strong rebound post-COVID-19 (2020-2022) with consistent year-on-year growth rates.
- Average annual growth (CAGR) of 2.89%.
Future Trends to Watch:
- Potential impact of new regulations on chemical manufacturing processes.
- Shift towards sustainable and eco-friendly chemical products.
- Technological advancements and automation in manufacturing processes.
- Global supply chain disruptions influencing local production and demand.
