The 2023 R&D expenditure in the manufacture of chemicals and chemical products shows Germany leading with €4.76 billion, followed by Spain at €0.34853 billion. Finland, Portugal, Lithuania, Slovenia, and Latvia report significantly lower investments. Germany and Spain exhibited a positive year-on-year variation of 2.56% and 4.25% respectively, while Finland and Slovenia showed declines. Lithuania and Latvia’s expenditure surged by 8.39% and 6.98%. Over the past five years, the compounded annual growth rate highlights notable growth in expenditure, particularly in emerging economies investing in the chemical sector.
Future trends to monitor include sustained growth in R&D investment in Germany and Spain, potential recovery in Finnish and Slovenian R&D activities, and expanding contributions from Lithuania and Latvia. Additionally, the impact of regulatory changes and innovations in sustainable chemical practices may reshape investment patterns across Europe.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Chemicals and Chemical Products by Country
| # | 7 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 4,760 | 2023 | +2.39% | +2.56% | View data |
| 2 | 2 Spain | 348.53 | 2023 | +2.51% | +4.25% | View data |
| 3 | 3 Finland | 119.6 | 2023 | -0.084% | -0.97% | View data |
| 4 | 4 Portugal | 42.4 | 2023 | +3.96% | +4.63% | View data |
| 5 | 5 Lithuania | 14.86 | 2023 | +6.26% | +8.39% | View data |
| 6 | 6 Slovenia | 14.15 | 2023 | -1.15% | -0.28% | View data |
| 7 | 7 Latvia | 1.26 | 2023 | +3.53% | +6.98% | View data |
