The market for ethylene polymers in Belgium has experienced significant volatility over the past decade. From a high in 2013, where production reached 2.2303 billion kilograms, there was a sharp decline in 2015 to 0.25772 billion kilograms. This was followed by a gradual recovery with fluctuations, reaching 1.5572 billion kilograms in 2021. In 2023, the production stood at 1.545 billion kilograms, showing a modest increase of 4.82% from the previous year.
Over the last two years, the market has seen a year-on-year variation of 4.82% in 2023, reflecting a stabilization phase after experiencing varied changes in previous years. The last 5-year CAGR stood at 7.11%, indicating a steady recovery and growth phase following earlier declines.
Looking forward, forecasted data suggests a continued upward trend with steady growth, reaching 1.8897 billion kilograms by 2028. The forecasted 5-year CAGR is 3.19%, suggesting moderate growth over the next five years.
Future trends to watch for include potential impacts of regulatory changes, technological advancements in production processes, market demand shifts, and global economic factors that could influence the growth trajectory of the ethylene polymers market in Belgium.