The rubber and plastic products manufacturing production value in France peaked in 2019 at 33.45 billion euros and experienced a significant decline to 26.7 billion euros in 2020 due to external shocks, likely the COVID-19 pandemic. The value partially recovered to 30.14 billion euros by 2023. The year-on-year variations indicated a general trend of decline with temporary recoveries, culminating in a negative CAGR of -1.3% over the last five years leading up to 2023. Forecasting suggests a continuous decline with an average annual rate of -2.96%, leading to a projected value of 25.04 billion euros by 2028 and a total forecasted decline of 13.94% over the next five years.
Future trends to watch for include increasing regulations and environmental concerns influencing production methods, shifts in global supply chains, advancements in materials technology, and economic factors such as inflation and labor costs. Additionally, ongoing digital transformation and automation are significant factors that could impact productivity and costs in this sector.
