Over the past decade, the sold production value of safety glass in Belgium has experienced significant fluctuations. From a high value in 2013, the market saw a drastic decline in 2015, followed by variability in subsequent years. Positive growth spurts in 2016-2019 were overshadowed by substantial declines in 2020 and 2021. The value in 2023 stood at approximately 44.887 million euros, reflecting a year-on-year decrease of 11.51%. The five-year CAGR from 2018 to 2023 demonstrated a slight decline at -3.68% indicating a relatively stagnant market with sporadic growth and downturn periods.
Future forecasted data indicates a continuous downward trend with an average annual decrease rate (5-year CAGR) of -25.51%, predicting a substantial reduction in market value by 2028. Over the next years, rapid technological advancements, regulatory changes, and potential shifts in demand for safety glass in various sectors, including automotive and construction, will be crucial trends to watch for in forecasting market dynamics.
