The Chemicals Manufacturing Gross Value Added (GVA) in the UK for 2023 was £13.1 billion. Forecast data indicates a steady year-on-year increase reaching £14.26 billion by 2028. The year-on-year variations show consistent growth: 2024 (1.53%), 2025 (1.88%), 2026 (1.84%), 2027 (1.67%), and 2028 (1.64%). The Compound Annual Growth Rate (CAGR) from 2024 to 2028 stands at approximately 1.71%, reflecting stable expansion in the sector.
Future trends to watch for include:
- Technological advancements enhancing productivity.
- Environmental regulations impacting manufacturing processes.
- Global market dynamics influencing export demand.
- Raw material price fluctuations affecting cost structures.
