From 2013 to 2022, the production value fluctuated significantly, with notable declines in 2015, 2016, 2019, and 2020. However, recovery was marked in 2014, 2017, and 2021. The forecast data from 2023 onwards to 2028 show a stable yet slightly declining trend, with a forecasted 5-year CAGR of -0.14%. Despite short-term recoveries, the sector exhibits long-term stagnation.
Future Trends to Watch: The sector should monitor advancements in sustainable materials, regulatory changes in environmental legislation, and technological innovations such as biodegradable plastics and synthetic rubber alternatives, which could influence future production trends.
