The value-added of refined petroleum products and coke in Belgium has experienced significant volatility over the past decade. Notably, 2015 saw a remarkable increase of 129.13%, while 2018 and 2020 witnessed sharp declines of 33.41% and 42.76%, respectively. By 2023, the value stood at 2130 million Euros, marking robust growth of 14.12% from the previous year. This recent reversal is emphasized by an impressive CAGR of 10.34% over the past five years.
Future trends to watch for:
- The forecast indicates a more stable growth rate with a projected CAGR of 2.92% from 2024 to 2028.
- Ongoing geopolitical developments, energy transition initiatives, and market demand shifts will influence future performance, thus necessitating close monitoring of industry dynamics.
