Demand for Automotive Glass Products Remains Weak
April 25, 2012
by Katie O'Mara, email@example.com
The glass product manufacturing industry in the U.S. is estimated 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. However, the demand for automotive glass products has been weak, as the volume of U.S. automotive production went down at an average rate of 18.4 percent per year between 2007 and 2010.
According to the report, the automotive glass industry is responsible for 15 percent of glass demand and the industry has seen more glass in vehicles due to new technology and designs. Expectations for 2012 include a two percent increase in consumer spending towards a variety of products like automobiles. The report does still state that there is weak demand for automotive glass products and with product substitution and import penetration, industry expansion will be restrained.
Glass industry sales have decreased since the late 1990s, but increased in the mid-2000s. Consequently, revenue is expected to go down an average of 1.6 percent over the years 2007-2012. In 2012, the glass product manufacturing industry in the U.S., encompassing 1,739 businesses, is expected to post $22.7 billion in revenue and $2.1 billion in profits.
This story is an original story by AGRR™ magazine/glassBYTEs.com™. Subscribe to AGRR™ Magazine.
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