Between 2013 and 2023, the Gross Value Added (GVA) in Belgium’s chemicals manufacturing sector witnessed fluctuations with an overall positive trend. Starting at €7.63 billion in 2013, it climbed steadily till 2015, saw a dip in 2016, then recovered and grew to €9.2 billion in 2018. From a downturn in 2019 and 2020, the sector rebounded significantly in 2021 and 2022, peaking at €10.55 billion in 2023.
Key Year-on-Year Variation for 2023:- Slight decrease of 0.35% from 2022
Key Average Growth Rate Over the Last 5 Years:- Compound Annual Growth Rate (CAGR) of 2.78%
Projected Future Trends (2024-2028):- Forecasted steady growth with a 5-year CAGR of 0.9%- 5-year overall growth rate projected at 4.57%
Future trends to watch for include potential impacts of regulatory changes within the European Union, advancements in sustainable chemical production technologies, and shifts in global supply chains affecting Belgium’s chemicals manufacturing sector.
