The sold production of synthetic rubber in Spain has shown significant variability over recent years. In 2023, the value stood at 253.07 million Euros. The market experienced a major decline in 2014 with a year-on-year drop of 11.55%, followed by fluctuating growth rates. The significant surge in 2021, with a year-on-year increase of 43.46%, marked a notable recovery in the industry.
Over the last two years, variations were observed with a significant decrease of 13.9% in 2022, followed by a 4.94% increase in 2023. The average annual growth rate (CAGR) over the last five years has been 1.08%.
Forecasted data indicate a positive trend, with an estimated growth rate of 1.39% per year over the next five years, resulting in an overall 7.17% increase by 2028.
Future trends to watch for include advancements in manufacturing technology, the impact of sustainability initiatives, and potential market shifts driven by changes in demand for eco-friendly materials.
