The production value of rubber and plastic products manufacturing in Spain has shown significant fluctuations between 2013 and 2023. From a value of 17.41 billion euros in 2013, it reached 23.28 billion euros in 2023. The industry experienced periods of growth and decline including a sharp decline in 2020 due to external factors, followed by strong recovery in subsequent years.
- The most recent year-on-year variation for 2023 was 5.64%, indicating a growth trend from the previous year.
- The average annual growth rate (CAGR) over the last 5 years stood at 2.18%.
Looking forward, forecast data projects a steady growth trend, with the production value expected to reach 27.05 billion euros by 2028. The forecasted 5-year CAGR is 2.38%, suggesting a stable but moderate growth rate. Total growth over this period is expected to be 12.47%.
Future trends to watch for include advancements in plastic recycling technology, increased demand for biodegradable products, and potential regulatory impacts stemming from environmental policies. Monitoring these factors will be critical for understanding the industry's trajectory.
