Demand for Automotive Glass Products Remains Weak
Rob Houglum ZIPGlassNetwork.com Wednesday, April 25, 2012
The glass product producing industry in the U.S. Is predicted to grow 2 percent in 2012-2017, according to a recent report titled Glass Product Manufacturing in the U.S. From IBISWorld in Santa Monica, Calif. Nevertheless the requirement for automotive glass products has been feeble, as the volume of U.S. Car production went down at an average rate of 18.4 percent each year between 2007 and 2010.
According to the report, the auto glass industry is responsible for 15 percent of glass demand and the industry saw more glass in automobiles due to new technology and designs. Expectations for 2012 include a two percent increase in consumer expenditure toward a variety of products like autos. The report does still state that there's puny requirement for automotive glass products and with product substitution and import penetration, industry growth will be restrained.
Glass industry sales have decreased since the late 1990s, but increased in the mid-2000s. Hence, revenue is expected to go down a median of 1.6 percent over the years 2007-2012. In 2012, the glass product producing industry in the U.S, encompassing 1,739 companies, is predicted to post $22.7 bill in revenue and $2.1 bn. in profits.
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