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The flat glass manufacturing industry in the UK is expected to return to consistent growth over the five years through 2018-19 as the UK economy undergoes a tentative recovery and conditions in key downstream construction and automobile industries improve. For these reasons, industry research firm IBISWorld has updated its report on the flat glass manufacturing industry.
The variety of uses for glass has made it an important input in many other industries. “The two most significant downstream industries for flat glass manufacturers are construction and automobile manufacturing, and as both of these industries are highly cyclical, flat glass manufacturers have not performed particularly well over the five years through 2013-14,” said Christopher Edwards, industry analyst.
Over the period, revenue is estimated to grow at a compound annual rate of just 1.1%. In the current year, it is projected to fall by 4.8% to £316 million (~ $491 million). This has reportedly been the result of construction and automobile manufacturing activity declining after the onset of recession in 2008-09. Both markets have largely stagnated since, except when construction briefly rebounded in 2009-10.
Although revenue is projected to contract marginally in 2014-15, the industry is expected to recover in line with the economy in general thereafter, assuming no further exogenous macroeconomic shocks.
For additional information, visit www.ibisworld.co.uk.