Forecast: Sold Production of Rubber Tyres and Tubes in the UK

The sold production of rubber tyres and tubes in the UK has exhibited fluctuating trends between 2013 and 2023. The series, measured in million Euros, reached 542.52 in 2023 from a high of 724.63 in 2015. Analysis of recent years shows a -2.61% year-on-year decrease in 2023. The Compound Annual Growth Rate (CAGR) over the last five years indicates a -3.53% average annual decline. These figures underline a persistent downturn since 2015, barring minor recoveries in specific years such as 2021.

Future trends to watch for include:

  • Anticipated continuous decline with a -2.39% forecasted five-year CAGR toward 2028.
  • Potential impact of technological advancements in tyre manufacturing on production costs and volumes.
  • Shift in consumer behaviour towards alternative transportation affecting tyre demand.
  • Regulatory changes regarding sustainable materials and production practices.

Top Countries about Rubber Manufacturing