The sold production of woven fabrics of glass fiber in Belgium saw significant year-to-year fluctuations from 2013 to 2023, initially growing rapidly with a peak in 2017 and experiencing some volatility afterwards. Inflows peaked at 26.34 million kilograms in 2017 and then dropped in subsequent years, standing at 20.728 million kilograms in 2023. Between 2020 and 2023, the year-on-year variations showed moderate growth, with slight increases in the range of 0.28% to 3.57%.
The CAGR over the past five years (2018-2023) has been -1.89%, indicating a slight decline in production volume. This contrasts with previous periods, such as 2016, where swift growth rates were observed.
Looking forward, the forecast from 2024 to 2028 shows a slight increase, with the CAGR predicted to be 0.21% and the overall production projected to grow by 1.06%. This indicates a more stable market compared to prior fluctuations, showing modest optimism for the future.
Future trends to watch for include advancements in manufacturing technologies, fluctuating demand in related industries such as automotive and construction, and potential impacts of environmental regulations. Monitoring these factors will be critical for predicting and adapting to changes in this market segment.
