Belgium's pulp, paper, and paperboard production value stood at €1.11 billion in 2023. From 2013 to 2023, the sector experienced considerable volatility. Peak values were witnessed in 2015 with steady decline thereafter, particularly notable in 2017 and 2018. Recent years saw slight recovery, culminating in a minor increase in 2023. The last two years witnessed a relatively stable growth, with a 1.69% rise in 2023 and 5.73% in 2022. However, the compound annual growth rate over the last five years was modest at 1.91%.
Looking ahead, forecasts indicate a continued downward trend, projecting a -3.85% CAGR over the next five years, with a total decline of 17.82% by 2028. The industry should monitor technological advancements in production processes, sustainability initiatives, and shifts in consumer behavior towards digital media, which could significantly impact future production values.
