Belgium's plastics production value witnessed substantial fluctuations over the past decade, peaking at €7.23 billion in 2013 before hitting a low of €4.29 billion in 2018. Despite recovering to €5.76 billion by 2023, the compound annual growth rate (CAGR) remains modest. The period from 2013 to 2023 saw mixed annual variations, ranging from -18.54% to +27.64%, highlighting a volatile market. The most recent years, 2022 and 2023, showed a moderate increase of 4.6% and 3.09%, respectively.
Looking forward, the forecast suggests a stabilization with a slower growth rate, projecting an annual increase in production value and a forecast 5-year CAGR of 0.32% by 2028. Future trends to monitor include advancements in sustainable plastics production, regulatory changes, and shifting demand patterns driven by environmental concerns and technological progress. The industry will need to adapt to these dynamics to maintain stability and growth.
