The forecast for business enterprise R&D expenditure in the manufacture of chemicals and chemical products in the US indicates a decline from 2024 to 2028. Starting at $8.15 billion in 2024, the expenditure is expected to decrease to $7.66 billion by 2028. Comparing year-on-year changes, the expenditure decreases by approximately 1.47% annually. This trend signifies a shift from 2023, when the value stood at approximately $8.27 billion. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) reflects an average annual decline of roughly 1.57%.
Future trends to watch for include potential shifts in global economic conditions, advancements in chemical technology, changes in regulatory environments, and increased emphasis on sustainability. These factors can significantly impact R&D expenditure patterns, presenting opportunities for growth or further decline.
