From 2013 to 2023, Turkey's import of glass fibres and glass wool saw varying year-on-year changes, with significant increases such as the 11.61% growth in 2014 and the 24.8% jump in 2021, juxtaposed against declines like the -13.85% in 2020. The Compound Annual Growth Rate (CAGR) over the past five years stands at 3.94%, indicating a steady uptrend despite some fluctuations.
The forecast data for the years 2024 to 2028 suggest continued growth, albeit at a more moderate 5-year CAGR of 2.37%, projecting the import value to reach 322.41 million USD by 2028. The forecasted trend points to consistent growth, underlined by a 12.42% overall increase over this period.
Future trends to watch for:
- Potential market shifts or economic changes impacting import volumes.
- Technological advancements in glass fibre and glass wool manufacturing.
- Regulatory changes affecting trade and import tariffs.
- Domestic production capabilities potentially reducing import dependency.
