In 2023, the turnover of glass and glass products in Austria stood at 1.67 billion euros. Reviewing the period from 2013 to 2023, we observe fluctuations in the market. Following a slight decline in 2013, the turnover modestly oscillated until a significant jump in 2018, reaching 1.63 billion euros. This growth trend persisted until 2019 but encountered a notable drop in 2020. Despite this setback, the market showed a recovery in the subsequent years, reaching its highest point in 2023. The average annual growth rate (CAGR) over the last five years (2018-2023) was 0.46%, indicating moderate growth.
The forecast for 2024 through 2028 suggests stabilization at around 1.66 to 1.67 billion euros with an overall slight decline, projecting a forecasted 5-year CAGR of -0.06%. This indicates a relatively flat market outlook with a minor overall reduction in turnover by 0.3% over the period.
Future trends to watch for:
- Technological advancements in glass manufacturing could drive efficiency gains.
- Demand variations in construction and automotive sectors that heavily rely on glass products.
- Environmental regulations and sustainability efforts influencing production and material usage.
- Potential market expansions or contractions due to economic factors.
- Innovative applications of glass in emerging industries, such as solar energy and smart buildings.
