In 2023, business enterprise R&D expenditure in the manufacture of rubber and plastic products in the US stood at approximately 3.77 billion USD PPP (2015). The projected growth in expenditure from 2024 to 2028 indicates a steady upward trend. Year-on-year increments show a consistent rise in investment: a 2.84% increase from 2024 to 2025, a 2.51% increase in 2026, and a 2.70% increase in 2027, leading to a cumulative rise that reflects a positive sentiment in the sector for innovation. The compound annual growth rate (CAGR) over this period is approximately 2.59%.
Future trends to monitor include:
- The impact of environmental regulations potentially increasing R&D spend on sustainable materials.
- Technological advancements driving R&D in new product development.
- The economic fluctuations influencing overall investment capabilities in the sector.
- Potential shifts in global supply chains affecting US-based manufacturing R&D priorities.
