Belgium's exports of adhesives based on rubber or plastic witnessed significant growth from 2013 to 2023, peaking at 84.911 million kilograms in 2023. The year-on-year growth has varied, showing remarkable swings, such as a substantial dip of -15.16% in 2020 due to global disruptions, followed by a notable recovery of 16.89% in 2021. The exports grew by 1.96% in 2023. The compound annual growth rate (CAGR) over the last five years (2018-2023) was 2.16%.
The upward trend is expected to continue, with forecasted values reaching 93.204 million kilograms by 2028, indicating a projected 5-year CAGR of 1.52% and an overall growth rate of 7.86% from 2024 to 2028.
Future trends to watch for include:
- Potential impacts of environmental regulations on adhesive formulation and demand.
- Innovation in adhesive technology, potentially driving new market opportunities.
- The influence of economic conditions on global trade and Belgian exports.
- Supply chain dynamics and their effects on production and export capabilities.
