The data indicates a consistent decline in the hours worked in the Glass Fibers sector in Belgium from 2024 to 2028, forecasted as follows: 1.4257 million hours in 2024, decreasing each subsequent year to 1.3493 million hours in 2028. In 2023, the actual value stood at 1.4450 million hours. The year-on-year variation shows a steady decrease, implying a contraction of the labor hours in the sector by 1.36% from 2024 to 2025, 1.36% from 2025 to 2026, 1.37% from 2026 to 2027, and 1.38% from 2027 to 2028. Over the last two years, the sector exhibited a significant downward trend.
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 stands at approximately -1.35%, indicating an average annual decline in the hours worked in the Glass Fibers sector over this period.
Future trends to watch for include technological advancements that may improve productivity and efficiency, potentially altering labor requirements. Additionally, market demand shifts driven by environmental policies and innovations in alternative materials might impact long-term employment trends in this sector.
