Analysis of the textile wicks and conveyor belts or belting market in Estonia reveals fluctuations in market value during the past decade, with a notable dip in 2016, followed by several years of recovery. The market value in 2023 stood at 7.2401 million euros. The year-on-year variation for 2023 was minimal at -0.0032%, indicating stability. However, the compound annual growth rate over the last five years was -1.46%, suggesting a gradual decline.
- 2013-2015: Growth trend, CAGR of 4.23%.
- 2016: Notable decrease, with a heavy negative impact.
- 2017-2019: Recovery phase with almost uniform market value.
- 2021-2023: Fluctuating market with a slight decline towards 2023.
Looking forward, the moderation in annual variation and the current stability level may suggest potential market stabilization or a slow growth phase, reflecting economic recovery and industrial demand fluctuation. Key areas to monitor include shifts in manufacturing investments and regional economic policies, which can influence future growth or contractions in this market segment.
| # | 5 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Finland | 60,834,000 | 2023 | +4.6% | +4.77% | View data |
| 2 | 2 Poland | 48,559,000 | 2023 | +0.13% | -0.2% | View data |
| 3 | 3 Denmark | 43,905,000 | 2023 | +1.42% | +1.64% | View data |
| 4 | 4 Sweden | 43,037,000 | 2023 | -10.43% | -6.77% | View data |
| 5 | 5 Estonia | 7,240,100 | 2023 | -0.0032% | -1.46% |
