The production in the rubber products manufacturing sector in Austria stood at 396.3 million euros in 2023. Reviewing the past decade shows variability: the sector fluctuated from a low of 354.4 million euros in 2015 to a high of 449.7 million euros in 2018. Over the last two years (2022-2023), production fell by 1.39% year-on-year, continuing a declining trend seen in previous years. The compound annual growth rate (CAGR) over the last five years also reflects a downtrend, standing at -2.5% from 2018 to 2023.
Looking ahead to the forecasted data from 2024 to 2028, the production is expected to continue diminishing albeit at a slower pace, with a forecast 5-year CAGR of -0.55%, leading to a projected production value of 381.2 million euros by 2028. Future trends to watch include advancements in material science, sustainability practices, and shifts in global supply chains that may impact production dynamics in the rubber sector.
