The production of synthetic rubber in Germany stood at 1.2744 billion kilograms in 2023. Over the past two years, there has been moderate growth with year-on-year variations of 1.2% in 2022 and 1.6% in 2023. The average annual growth rate (CAGR) from 2019 to 2023 was -1.18%, indicating a slight decline in production over this period.
Looking forward, from 2024 onwards, the production is forecasted to grow steadily. The projected average annual growth rate (5-year CAGR) from 2024 to 2028 is estimated at 1.17%, which translates to an overall growth of 5.98% over the five-year period. This signals a slow but positive trend of recovery and growth in synthetic rubber production in Germany.
Future trends to watch for:
- Technological advancements in synthetic rubber production processes that could enhance efficiency and output.
- Market demand shifts due to global economic conditions and developments in key industries like automotive and manufacturing.
- Potential regulatory changes and sustainability initiatives impacting production practices and volumes.
