The annual report of the Observatory on the transformation of flat glass, created by Management consulting&research promoted by Assovetro, has collected market analyzes for 2022, reporting a turnover of 1,215 billion euros and an increase of 20,7% compared to the previous year.
The prospects of flat glass for the two-year period 2023/24
This growth will continue, albeit at lower rates, in 2023: + 4 % and a demand of 1,264 billion euros, and in 2024 the projection of the flat glass market will touch 1,3 billion euros (2,6%).
The result is a positive general picture, to date, and moderately positive for the year to come, with market forecasts strongly influenced by the trend of inflation and the increase in the cost of debt to slow down the investments.
The leading sectors
In 2022, the construction segment was the largest driver of flat glass consumption (around 70%, for a total of 856 million euros), followed byfurnishings (over 20%, for 260 million euros). The remaining 10%, i.e. a demand for glass close to 99 million euros, was absorbed by the refrigeration, household appliances and transport sectors (excluding automotive).
Going into detail of the flat glass market for the construction sector, a record result can be observed in 2022: a +28,9% compared to the previous year, which was followed in 2023 by a growth of 3,5%, for a value of 885 million euros.
The market data reflects this the resourcefulness and excellent performance of flat glass processing companies. The Return on Sales, which expresses the company's profitability in relation to the remunerative capacity of the revenue flow, recorded a record result of 2022% in 9,1. A significant value which is accompanied by that of the return on invested capital (ROIC - Return on Invested Capital) which, in the same year, stood at 11,8%.
Last but not least, the debt rate is the lowest in the last five years, further demonstrating the solidity of the companies in the sector.
Source: Repubblica.it
