The production volumes of paper and paper products in Belgium have seen notable fluctuations from 2013 to 2023. Starting at 4.49 billion euros in 2013, the production hit its peak in 2014 with a 6.05% year-on-year increase. However, this was followed by a series of declines, most notably a significant 16.72% drop in 2020. Despite a partial rebound in 2021 with a 19.55% year-on-year increase, the industry faced a slight decline again with -0.75% in 2023, reaching 3.83 billion euros.
Over the last five years, the Compound Annual Growth Rate (CAGR) indicates an average decline of -0.92% per year. Looking forward, the forecasted data from 2024 to 2028 suggest a continued downtrend. The forecasted CAGR over this period is -0.64%, projecting a decrease to 3.67 billion euros by 2028.
Future trends to watch for include:
- Emerging digital media consumption reducing paper demand.
- Sustainability initiatives potentially driving demand for recycled paper products.
- Technological advancements increasing production efficiency.
- Economic factors influencing consumer spending and industrial activity.
