From 2013 to 2018, the import value of polymers of ethylene to Belgium saw periods of significant growth, reaching a high of 1242.4 million USD in 2018. However, between 2019 and 2020, the trend turned slightly negative, with a notable dip to 1047.5 million USD in 2020. The imports then surged upwards, hitting 1351.1 million USD by 2022, representing an 8.81% increase from the previous year. Import value in 2023 stands at 1394.2 million USD, marking a modest 3.19% year-on-year increase and a CAGR of 2.33% over the last five years.
A glance at the forecast data suggests a steady upward trajectory from 2024 to 2028, with imports expected to reach 1615.8 million USD by 2028. The average annual growth rate (CAGR) for this period is forecasted to be 2.37%, culminating in a 12.45% growth over the next five years.
Future trends to watch for include the global supply-demand dynamics of ethylene polymers, advancements in polymer technology, and any regulatory changes impacting import policies or environmental standards. Additionally, fluctuations in crude oil prices, as ethylene production is closely linked to petroleum, will be crucial to monitor.
