The sold production of glass fibres in the UK has shown significant volatility since 2013. After peaking at €481.41 million in 2018, it saw a dip in 2019 and 2020, rebounding slightly in the subsequent years. In 2023, the market stood at €440.25 million, reflecting a marginal year-on-year rise of 0.94%. Over the past two years, the market averaged a yearly increase of approximately 1.45%. The five-year compound annual growth rate (CAGR) from 2018 to 2023 was -1.77%, indicating moderate contraction during that period. With the forecast projecting a 0.75% CAGR from 2024 to 2028, minor growth is anticipated in the medium term. As such, the market is expected to incrementally grow to €461.57 million by 2028, representing an overall growth rate of 3.79% over five years.
Future trends to watch for include technological advancements in glass fibre production, increasing demand from renewable energy sectors, and potential impacts from global supply chain disruptions. The market's growth trajectory will likely be influenced by these factors, making it essential to monitor them closely.
