Between 2013 and 2015, the rubber products manufacturing production value in Austria showed a declining trend, with significant year-on-year decreases. In 2016, a turn-around occurred with a notable 8.01% increase, which continued with moderate growth until 2018. Following a small decline in 2019 and 2020, the production value gradually recovered up to 2023, albeit at a slower pace. In 2023, the production stood at 447 million Euros. Over the last five years leading to 2023, the average annual growth rate (CAGR) was slightly negative at -0.12%.
Future forecasts predict a steady but modest growth, with production values increasing gradually each year through 2028. The expected 5-year CAGR from 2023 to 2028 is 0.34%, with a forecasted overall growth rate of 1.71%.
Future trends to watch for:
- Technological advancements improving production efficiency.
- Changes in global demand for rubber products driven by various sectors.
- Potential impacts of environmental regulations on manufacturing processes.
- Economic conditions influencing production costs and investment.
