The rubber products manufacturing sector in Spain saw a varied trend in employment from 2013 to 2023. Employment peaked in 2018 with 23.33 thousand employees and experienced a gradual decline since then, reaching 21.52 thousand employees in 2023. Over the last two years, the sector exhibited a year-on-year decrease of -1.26% in 2022 and -1.25% in 2023. The compound annual growth rate (CAGR) over the last five years is -1.6%. Looking forward, forecasts suggest a continued decline, with employment projected to reach 20.23 thousand employees in 2028, reflecting a forecasted 5-year CAGR of -0.98% and a total decrease of 4.81% from 2023 values.
Future trends to watch for:
- Impact of automation and technological advancements on job preservation within the sector.
- The shift towards sustainable and eco-friendly rubber products potentially leading to new employment opportunities.
- Global economic conditions influencing the demand for rubber products and subsequent effect on employment in Spain.
