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Broken Outlook: Glass Product Manufacturing in Canada Industry Market Research Report Now Available from IBISWorld

Post Time:Sep 04,2013Classify:Industry NewsView:60

Over the past five years, the Glass Product Manufacturing industry has declined as both consumers and businesses turn away from the use of domestic glass.    

Substitute goods, such as plastics and metals, have become increasingly popular, and faltering construction levels have exacerbated declines in demand as manufacturers of architectural glass experienced plummeting sales. Furthermore, adds IBISWorld industry analyst Jeremy Edwards, “the industry has been exposed to a greater degree of globalization, including increasing import activity and decreasing export demand.” Imports have grown to account for the vast majority of domestic demand. In 2013, 68.3% of domestic demand comes from imports, with the industry's largest trade partners being the United States, China, Mexico and Germany. As a result of these negative trends, industry revenue has declined at an annualized rate of 7.0% over the five years to 2013. Conditions continue to worsen in 2013, with the industry expected to decline a further 4.0% to $1.4 billion by year-end.

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Source: http://www.glassonweb.com/news/index/19999/Author:

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