The current landscape of European business expenditure on R&D in the rubber and plastic products manufacturing sector highlights Italy as the frontrunner with significant investment at 851.43 million Euros. Belgium follows, albeit considerably lower, with 119.83 million Euros. The year 2023 saw notable increases in R&D spending in various countries: Italy up by 6.73%, Finland by 14%, and Portugal by 16.8%. Conversely, Sweden experienced a decline of 6.2%. Observably, smaller markets like Serbia and Malta show rapid increases, albeit from a smaller base, with growth rates of 67.94% and 23.44% respectively.
Moving forward, trends to observe include how regulatory pressures for sustainable materials and circular economy principles might drive greater R&D investments in nations like Italy and Belgium. Meanwhile, emerging markets such as Serbia could continue experiencing high growth driven by increased industrial capacity and foreign R&D investments. The emphasis on innovation in advanced materials is anticipated to maintain or bolster expenditure levels across the continent despite potential economic fluctuations.
Top countries in Business Expenditure on R&D in Rubber and Plastic Products Manufacturing by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 851.43 | 2023 | +5.06% | +6.73% | View data |
| 2 | 2 Belgium | 119.83 | 2023 | -0.042% | +1.36% | View data |
| 3 | 3 Spain | 90.24 | 2021 | View data | ||
| 4 | 4 Poland | 84.98 | 2023 | +9.99% | +5.72% | View data |
| 5 | 5 Finland | 69.12 | 2023 | +4.34% | +14% | View data |
| 6 | 6 Portugal | 53.48 | 2023 | +13.21% | +16.8% | View data |
| 7 | 7 Czech Republic | 42.84 | 2023 | +1.47% | +2.04% | View data |
| 8 | 8 Slovakia | 39.38 | 2023 | +13.32% | +10.12% | View data |
| 9 | 9 Hungary | 25.28 | 2021 | View data | ||
| 10 | 10 Sweden | 24.88 | 2023 | -4.87% | -6.2% | View data |
