The number of employees in the Rubber Products Manufacturing sector in Spain stood at 21.72 thousand in 2023. Over the last two years, the sector has seen a decline with a year-on-year variation of -0.32% in 2023 and -0.4% in 2022. The average annual variation over the past five years, represented by the CAGR, was -1.14%. This shows a consistent decreasing trend in workforce numbers in recent years.
Future forecasts predict a slight decline in employment, with an anticipated average annual decrease of -0.12% over the next five years, leading to an estimated 21.53 thousand employees by 2028. The projected growth rate over this period stands at -0.62%, suggesting a gradual but continued contraction in workforce size.
Future trends to watch include:
- Potential technological advancements that may either reduce the need for labor through automation or create new job opportunities in R&D and high-tech manufacturing.
- Regulatory changes or economic policies that could impact labor costs and employment levels.
- Market demand shifts that may influence the production capacity and, consequently, employment needs within the sector.
