The UK's production of chemical, rubber, plastics, fuel products, and other non-metallic mineral products is forecast to grow steadily from 2024 to 2028. In 2023, the sector was valued below the 2024 forecast level, showcasing a consistent increase in market value. Analysis of year-on-year percentage changes indicates moderate growth, with an average annual growth rate or CAGR expected over the five-year period. This aligns with the industry's historical data trends, showing resilience and potential expansion.
Future trends to watch for include:
- Advancements in sustainable materials and green technologies
- Impact of global supply chain dynamics and international trade policies
- Fluctuations in raw material costs
- Emerging demand from new markets
