The production of plastics in primary forms in Austria experienced fluctuations from 2013 to 2023. Values ranged from 276.58 million kilograms in 2013 to 413.34 million kilograms in 2023. Notably, 2020 witnessed a significant drop of 23.32% from the prior year, reflecting a challenging period. However, the industry rebounded with a 10.08% increase in 2021 and a robust 15.22% in 2022. By 2023, production rose by 8.37%. The last five years till 2023 show a Compounded Annual Growth Rate (CAGR) of 1.29%.
Projections for 2024 onwards indicate sustained growth, with values expected to reach 477.6 million kilograms by 2028. This forecasted period 2024-2028 sees a CAGR of 2.29%, translating to an 11.99% growth rate.
Future trends to watch for include:
- Adoption of sustainable materials
- Technological advancements in production
- Potential regulatory changes affecting production processes
- Market demands shifting towards eco-friendly products
