In 2023, the production value of rubber products manufacturing in Norway stood at 66.5 million Euros. Moving into 2024, the forecasted production value is 61.6 million Euros, representing a year-on-year decline of 7.36%. For 2025, the value further decreases to 56.7 million Euros, indicating a year-on-year drop of 7.95%. The downward trend continues with values of 51.8 million Euros in 2026 (down 8.64%), 46.9 million Euros in 2027 (down 9.45%), and 42.0 million Euros in 2028 (down 10.45%). Over the last two years, the production value dropped by 11.18%, showing a significant year-on-year decline. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 is negative, suggesting a consistent decrease in production value.
Future trends to watch for include:
- The impact of technological advancements in manufacturing processes on production efficiency and cost.
- Changes in global supply chains and raw material availability.
- Shifts in demand driven by alternative materials and industries.
- Potential regulatory changes affecting the rubber industry.
- Environmental concerns and sustainability initiatives affecting production and products.
