Between 2013 and 2015, Glass Fibers Production Value in Belgium displayed significant volatility, with an extraordinary peak in 2015. From 2016 onwards, there has been a more stable and progressive increase, reaching €729.9 million in 2023. The year-on-year variation in 2023 showed a moderate 4.09% increase, while the Compound Annual Growth Rate (CAGR) over the last five years remained strong at 12.45%.
Looking forward, the production value is forecasted to maintain an upward trend, reaching €869.2 million by 2028. The forecasted five-year CAGR stands at 2.77%, with an expected overall growth rate of 14.62% over this period.
Future trends to watch for:
- Technological advancements in glass fiber production.
- Increasing demand driven by growth in renewable energy and automotive sectors.
- Potential impacts of regulatory changes and environmental initiatives.
