The forecasted value-added for rubber and plastics products, along with other non-metallic mineral products in Japan, indicates a moderate upward trend over the years 2024 to 2028, with values gradually increasing from 9.449 trillion yen to 9.772 trillion yen. In 2023, the actual amount stood slightly lower, setting a base for these projections. The year-on-year growth rate, as observed from the forecasted data, suggests an approximate average annual increase of around 0.7%. The compound annual growth rate (CAGR) over this period remains consistent with the recent historical trends.
Future trends to consider within this sector include:
- The impact of environmental regulations and shifts towards sustainable materials.
- Technological advancements in production efficiency and product innovation.
- Global market demand fluctuations, especially from major trading partners.