The production value of glass fibers in Finland, expressed in Million Euros, exhibited significant fluctuations over the past decade. In 2023, the value stood at 196.3 million Euros. Between 2013 and 2023, the sector saw considerable volatility, with substantial growth in 2015 and 2018, countered by marked declines in 2017 and 2019. The most notable dip occurred in 2017 with a year-on-year decrease of 62.01%. The period also featured smaller, consistent drops from 2020 to 2023, stabilizing at lower values annually.
The year-on-year variation for the past two years shows a decline of 2.97% in both 2022 and 2023. The average annual variation (CAGR) over the last five years suggests a decrease of -11.5%.
Looking ahead, the forecast from 2024 to 2028 predicts a continued downward trend. The expected average annual decrease (CAGR) is -2.78%, equating to an overall reduction of 13.14% over five years. This forecast indicates sustained challenges in the sector possibly due to market saturation, competitive pressures, or broader economic factors.
Future trends to watch for include technological advancements in manufacturing processes, shifts in demand due to changing economic conditions or emerging markets, and the impact of environmental regulations which may either constrain or drive innovation and growth in glass fiber production.
