Between 2013 and 2023, the turnover in Spain's plastics and synthetic rubber sector exhibited fluctuations, with a notable peak in 2014 and a significant dip in 2020 due to the pandemic. In 2023, the sector stood at 9.41 billion Euros, showing a modest year-on-year growth of 2.44%. On a five-year horizon from 2018 to 2023, the sector's CAGR was -0.15%, indicating a slight overall decline.
Looking forward, the forecasted data from 2024 to 2028 predict a gradual decrease in turnover with a forecasted five-year CAGR of -0.19%. This suggests a stable yet slightly contracting market with a forecasted growth rate of -0.96% by 2028.
Future trends to watch for include advancements in recycling technologies, shifts towards sustainable materials, and potential regulatory changes that could impact production and demand within the sector. Additionally, economic factors and global supply chain dynamics will likely influence turnover trends.
