Between 2013 and 2015, the market experienced fluctuations, ending with a slight decline of -4.85%. From 2016 to 2020, the market declined more steeply by -20.47%. The following years from 2021 to 2022 showed modest recovery efforts with mixed results. Forecasts from 2023 indicate a continuous downturn, expecting the market to shrink to 139.61 Million Euros by 2028, indicating a 5-year CAGR of -2.36%.
Future trends to watch include technological advancements, shifts in regulatory policies, and innovations in substitute materials. These factors could either mitigate the decline or accelerate market contraction.
