The Rubber Products Manufacturing sector in Belgium has seen fluctuations in employment over the past decade. In 2023, the sector employed around 1.79 thousand individuals, reflecting a 4.83% decline year-on-year. Over the last five years, the Compound Annual Growth Rate (CAGR) was -0.65%, indicating a gradual decrease in workforce. Looking forward, the forecasted data shows a continuous decline in employment, with an expected 20.8% reduction by 2028 and a negative CAGR of -4.56%. The predicted downward trend suggests an ongoing contraction in the sector.
Future trends to watch for:
- Technological advancements and automation potentially reducing the need for manual labor.
- Shift towards eco-friendly materials impacting traditional rubber manufacturing processes.
- Global economic conditions and their effect on manufacturing demand and employment.
- Potential for industry consolidation and restructuring affecting job numbers.