The glass fibers production value in Italy has experienced significant volatility over the past decade, starting from €154.2 million in 2013 to €119.9 million in 2023. The production value peaked in 2019 at €165.3 million before a sharp decline to €124.5 million in 2021. Over the last five years, the trend has been negative, with a Compound Annual Growth Rate (CAGR) of -5.25% indicating an average annual decrease in production value. The year-on-year variation further confirms this decline, showing a consistent drop from 2022 to 2023 at -1.64%.
For the future, a continual decline is forecasted; by 2028, the value is expected to reach €114.3 million with a forecasted 5-year CAGR of -0.67%. This long-term trend suggests a persistent downtrend.
Future trends to watch for:
- Technological advancements in manufacturing processes that could reduce costs and boost demand.
- Environmental regulations and sustainable practices impacting production methods and costs.
- Market demand shifts in key industries like automotive and construction that use glass fibers.
- Global economic conditions and their impact on industrial outputs and investments in Italy.
