In 2023, the United States led in R&D expenditure in the manufacture of rubber and plastic products, with significant year-on-year growth of 7.61%. Japan and Germany were the next biggest investors, although Japan experienced a slight decline of 0.25%. South Korea and Italy showed moderate positive trends. Notably, Romania saw a remarkable increase of 117.72% from 2022. Other European countries like Slovakia and Portugal also registered noteworthy growth.
Future trends suggest a continued strong push from emerging markets, especially Eastern European countries, while North America remains dominant. Monitoring technological innovation and sustainability advancements will be key areas of focus.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Rubber and Plastic Products Share by Country (Million US Dollars PPP = 2015)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 30.78 | 2023 | +5.19% | +7.61% | View data |
| 2 | 2 Japan | 28.96 | 2023 | +1% | -0.25% | View data |
| 3 | 3 Germany | 13.04 | 2023 | +1.51% | +1.64% | View data |
| 4 | 4 South Korea | 11.69 | 2023 | +2.95% | +3.95% | View data |
| 5 | 5 Italy | 4.54 | 2023 | +6.24% | +1.05% | View data |
| 6 | 6 Taiwan | 2.8 | 2023 | +2.15% | +1.04% | View data |
| 7 | 7 Canada | 1.73 | 2023 | +5.05% | +6.33% | View data |
| 8 | 8 United Kingdom | 1.53 | 2023 | +1.42% | +1.27% | View data |
| 9 | 9 Spain | 1.17 | 2023 | -0.22% | -1.64% | View data |
| 10 | 10 Portugal | 0.77 | 2023 | +4.78% | +8.34% | View data |
