The Glass and Glass Products industry in the Netherlands has shown significant fluctuations over the years. From 2013 to 2015, there was a noticeable decline in hours worked, but this was followed by stability and slight increases from 2016 to 2019. From 2020 onwards, the trend shifted towards a consistent decrease, with 2023 recording 6.2429 million hours worked, highlighting a diminishing labor input in the industry. Notably, the last two years have seen a reduction of 2.17% year-on-year, with a five-year CAGR indicating an average annual decline of 2.24% up to 2023.
Looking forward, the forecasted data suggests a continued decline, projecting a further reduction in hours worked year-on-year. By 2028, the expected hours worked are forecasted to be 5.5714 million, representing a forecasted five-year CAGR of -1.82% and an overall growth rate of -8.75%. This extended decline indicates industry challenges ahead.
Future trends to watch for include technological advancements reducing labor needs, potential market shifts affecting demand, and any regulatory changes impacting production and employment in the Glass and Glass Products sector in the Netherlands.
