In 2023, Belgium led Europe's R&D spending in chemicals and chemical products manufacturing with 737.48 million Euros, followed by Switzerland and Italy. Notable increases were observed in Italy (4.8%) and Portugal (12.82%) year-on-year. Conversely, Poland and Finland saw declines of 3.3% and 1.94%, respectively. Smaller markets like Slovakia showed significant growth with a 7.26% increase, while Malta rose by 11.36%. Over five years, the sector exhibited varied Compound Annual Growth Rates (CAGR), pointing to distinct national dynamics and investment priorities.
Future trends to watch include:
- Shifts in regulatory policies affecting R&D investments.
- Emergence of sustainable chemical technologies influencing spending patterns.
- Impact of economic recovery post-pandemic on funding availability.
- Growing collaboration between countries to boost innovation through shared research initiatives.
Top countries in Business Expenditure on R&D in Chemicals and Chemical Products Manufacturing by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 737.48 | 2023 | +1.86% | +3.52% | View data |
| 2 | 2 Switzerland | 587.75 | 2023 | +4.22% | +2.9% | View data |
| 3 | 3 Italy | 584.6 | 2023 | +6.62% | +4.8% | View data |
| 4 | 4 Spain | 296.68 | 2021 | View data | ||
| 5 | 5 Sweden | 163.93 | 2023 | +16.63% | View data | |
| 6 | 6 Poland | 104.9 | 2023 | +5.04% | -3.3% | View data |
| 7 | 7 Finland | 85.04 | 2023 | -2.42% | -1.94% | View data |
| 8 | 8 Portugal | 65.41 | 2023 | +11.53% | +12.82% | View data |
| 9 | 9 Czech Republic | 29.31 | 2023 | +0.3% | +3.77% | View data |
| 10 | 10 Hungary | 12.6 | 2021 | View data |
