Federal Statistics Office data has revealed that the glass industry closed out 2024 with a 3.1 percent decline in revenue. ifo Business Climate Index stabilises at a low level.
Total glass industry revenue in Germany declined year-over-year by 3.1 percent to around EUR 12.28 billion in 2023 (2022: EUR 12.67 billion). Both domestic and foreign revenue shrank by 3.7 and 2.2 percent respectively.
Segment results
Turnover trends in the glass sectors varied: The flat glass manufacturing segment closed out 2023 with revenue down 10.4 percent[1] to EUR 1.10 billion (2022: EUR 1.23 billion). Revenue in the flat glass finishing segment declined year-over-year by 4.2 percent to EUR 4.64 billion (2022: EUR 4.85 billion).
The glass fibre manufacturers recorded the largest decline in turnover. Revenue fell by 16.7 percent to EUR 1.14 billion (2022: 1.37 billion). In contrast, the special glass industry experienced moderate losses. There was a 0.7 percent decline in revenue, taking its total annual revenue down to EUR 1.71 billion (2022: EUR 1.73 billion).
The hollow glass industry's result remained more or less at the previous year’s level, with 0.1 percent revenue growth to EUR 3.48 billion (2022: EUR 3.47 billion). This sector includes both container glass and hollow glass.
BV-Glas President Dr Christian Quenett commented on the result: “The glass industry has been in an all-time low since May 2023, which has had an impact on the overall result. The general economic situation remains difficult, and we still see no signs of a rapid improvement for the glass industry. However, the ifo business climate index stabilised at a low level in May. The glass industry has obviously bottomed out. We expect a recovery in the course of 2025.”
[1] According to the business statistics of the Federal Statistics Office (companies with 20 or more employees), to which the other figures refer, the turnover of flat glass manufacturers is slightly positive (plus 3.4 percent). However, this figure does not adequately reflect the situation in the flat glass industry, which is reporting a significant downturn. BV Glas has therefore decided to publish the figure from the ‘Companies with 50 or more employees’ statistics.