The Rubber Products Manufacturing Sector in Turkey has seen significant growth over the past decade, with production increasing from 10.0 Billion New Turkish Liras in 2013 to 44.62 Billion in 2023. This consistent upward trend represents a robust CAGR (Compounded Annual Growth Rate) of 12.62% over the last five years. Year-on-year variation reflects a deceleration in the growth rate, from a high of 35.53% in 2018 to 9.92% in 2023.
Looking ahead, the sector is projected to continue its expansion, albeit at a more moderated pace. The forecasted 5-year CAGR stands at 5.67%, with production expected to reach 64.03 Billion by 2028, indicating a cumulative growth rate of 31.75% from current levels. Trends to watch for include technological advancements in rubber manufacturing, potential shifts in demand due to global economic conditions, and regulatory changes impacting the industry.
