The production of woven fabrics of artificial staple fibres in Belgium exhibited fluctuating trends over the past decade. From 2013 where production stood at 307.05 thousand square meters, an overall growth trend can be observed peaking at 558.26 thousand square meters in 2023. The production saw substantial increases in certain years like 2015 and 2021 with 17.58% and 24.17% year-on-year growth respectively, while also experiencing a significant drop in 2020 by 14.32%. The 5-year Compound Annual Growth Rate (CAGR) leading up to 2023 stood at 3.07%, showcasing moderate growth.
Future forecasts indicate a sustained growth trajectory, with production expected to reach 636.9 thousand square meters by 2028, translating to a forecasted 5-year CAGR of 2.07%. Notably, the past 5 years averaged an annual growth rate of 3.07%, while forecasted figures suggest a slightly lower annual growth rate of 2.07% over the next five years.
Future trends to watch for include technological advancements in fabric production, shifts in consumer preferences towards sustainable materials, and potential economic fluctuations that could impact production volumes. Additionally, the integration of automation and smart manufacturing technologies might further influence the production landscape significantly.
