In 2023, Malta's glass and glass products production value stood at €17.8 million. Reviewing the past data shows fluctuations with significant peaks in 2018 at €19.6 million followed by declines in 2019 and 2020. This sector witnessed slight recoveries from 2021 onwards, with year-on-year variations around 0.56% to 0.57% up to 2023. The average annual change over the last five years was a decline of -1.91%.
Looking forward, the production value is expected to continue its stabilization around €17.8 million to €18 million by 2028. The forecasted 5-year CAGR is 0.22%, indicating a modest growth trajectory of 1.12% over the period.
Future trends to watch for:
- Technological advancements in glass manufacturing.
- Increasing demand for sustainable and recyclable glass products.
- Changes in regulatory frameworks impacting production and costs.
- Global market dynamics and their impacts on local production capacity.
