Beyond Consolidation: GIMAV Shares Encouraging Figures for Glass Processing Technology in 2023
The GIMAV Shareholders’ Meeting on January 17 revealed promising developments in the Glass Processing Technology Sector as it presented the preliminary figures for 2023. According to Dino Zandonella Necca, President of GIMAV, the year marked a phase of consolidation with growth that can be characterized as “normal” in the most optimistic sense. The positive outcomes are attributed to collective efforts within the industry, where investments and innovations, particularly in energy efficiency, contribute to keeping the sector vibrant, modern, and increasingly sustainable.
Zandonella Necca commented, “The glass sector, even in the face of a challenging real estate market, is performing well, demonstrating greater competitiveness against alternative materials. This resilience has a positive spillover effect on the technology industry as a whole, signifying a return to the prime for the glass sector.”
Despite the uneven trends in its divisions, the Glass Processing Technology Sector anticipates surpassing EUR 3 billion in sales for the first time in its history. International markets remain crucial, constituting two-thirds of total sales, with exports totaling around EUR 2 million. While 2023 was not an exceptionally lively year, exports saw varied trends, with accessories and flat glass experiencing a slight downturn compared to 2022, while hollow glass witnessed a notable increase of 6.2 percent.
The domestic market outshone expectations, with Italian manufacturers benefiting significantly from an active local market, showing an 8.1 percent increase in domestic deliveries. In contrast, international competitors reported a modest 1.9 percent growth in imports.
Commenting on the overall performance, GIMAV Director Fabrizio Cattaneo remarked, “2023 was a year of positive normality, with good results across all segments. While some Made in Italy accessories faced a slight slowdown, their niche production and distinctiveness remain evident, showcasing resilience in a phase of consolidation.”
Source: GlassBalkan
