The German Glass Industry Association BV Glass reported a decline in glass sales in 2023. The figures were provided by the Federal Statistical Office. The IFO Business Climate Index also stabilized at a low level.
Total sales of sheet glass manufacturers fell by 10.4% in 2023, amounting to €1.10 billion compared to €1.23 billion in 2022.
Sheet glass manufacturers ended the year with a loss of 4.2%. In monetary terms, this was €4.64 billion in 2023 compared to €4.85 billion in 2022.
As BV Glass President Dr. Christian Quenett commented: "The glass industry has been at a record low since May 2023, affecting the overall result. The overall economic situation remains challenging, and we do not yet see any signs of a quick improvement for the glass industry. However, the IFO Business Climate Index stabilized at a low level in May. The glass industry has apparently hit rock bottom. We expect a recovery by 2025."
Read also: The home repair market in Germany has positive forecasts for 2024.
The IFO Business Climate Index is provided by the IFO Institute. It is formed based on a survey of 7,000 executives (excluding the banking sector). The IFO Index has a significant impact on the German market.
Illustrative photo: Jannik on Unsplash
The German glass industry expects a recovery in 2025
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