Over the past decade, the production in the rubber products manufacturing sector in Italy has experienced fluctuating growth. The sector saw notable year-on-year increases in 2015 (5.39%) and 2017 (8.56%), while experiencing declines in 2016 (-1.51%) and 2020 (-1.66%). In recent years, 2021 marked a year-on-year decline of 2.8%, followed by modest recovery in 2022 (1.67%) and 2023 (1.63%). As of 2023, the sector stands at 11.03 Billion Euros. The compound annual growth rate (CAGR) over the last five years is calculated at 0.35%.
Looking forward, forecast data indicates a continued positive trajectory with an average annual growth rate of 1.19% over the next five years, reaching an estimated value of 11.88 Billion Euros by 2028. Key trends to watch for include advancements in sustainable rubber technologies, increased automation in manufacturing, and shifts in global trade dynamics affecting raw material supply and demand.
