The production value of rubber products manufacturing in Belgium showed moderate growth between 2013 and 2017, peaking at 776.4 million euros in 2017. However, from 2018 onwards, there was a steady decline, accelerating sharply from 2020, with the value plummeting to 449.4 million euros in 2023. The year-on-year variation between 2022 and 2023 was -8.75%, reflective of a continuous downward trend.

This decline is further emphasized with a Compound Annual Growth Rate (CAGR) of -9.95% over the last five years. The forecast for further years until 2028 indicates a continued sharp decline, with the value expected to drop to 240.3 million euros by 2028 and a forecasted 5-year CAGR of -9.99%.

Future Trends to Watch For:

Technological advancements and automation in rubber products manufacturing may influence production value positively.
Environmental regulations and sustainability initiatives could impact production processes and costs.
Global economic scenarios and raw material availability will play a critical role in future production values.