The production volumes of chemical and pharmaceutical products in Mexico showed fluctuations from 2013 to 2023, with values reaching 910.87 billion Mexican Pesos in 2023. From 2022 to 2023, there was a slight decline of 0.29%, reflecting a slower decrease compared to the average annual contraction rate of -0.11% over the past five years. Notably, between 2013 and 2023, the sector faced various downturns, including significant reductions in 2016 (-4.51%) and 2020 (-5.29%). Although there was a notable recovery in 2021 with a 7.05% increase, the overall trend has been predominantly negative.
Forecast data from 2024 to 2028 suggests a continued downward trend, with the five-year CAGR estimated at -0.24% and a cumulative decline of 1.22%. This indicates a persistent contraction in the sector.
Future trends to watch for include the impact of technological advancements, regulatory changes, and shifts in global market demand, particularly those driven by health crises and environmental considerations. Monitoring these factors will be crucial for stakeholders adapting to the evolving landscape.
