In 2023, Business Enterprise R&D Expenditure in the Manufacture of Rubber and Plastic Products in the UK stood at £142.0 million. Forecasts for the sector indicate a growth trend from £145.5 million in 2024 to £156.3 million in 2028, translating to an average annual growth rate (CAGR) of approximately 1.8%. Year-on-year increases are expected at around 1.9% from 2024 to 2025, consistently continuing through 2028. This indicates a stable and progressive investment in R&D within the sector.
Future trends to watch include the potential impact of technological advancements, environmental regulations, and innovations in sustainable materials. These factors could drive further R&D investment and sector transformation.
