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“ Optimistic about the future ” despite the UK ’ s current economic uncertainty
Edgetech Managing Director Chris Alderson assesses the last twelve months and gives his thoughts on the year ahead .
At Edgetech , a proud part of the US building products powerhouse Quanex , we work to the same financial year as our American parent company , which ends in October .
Reflecting on the last twelve-month period ending in October , we are very pleased with our strong performance and are ready and prepared to face a more uncertain economic environment in the UK for the next year .
Over the last year , we have observed several trends which we anticipate will continue throughout 2023 and beyond .
A notable trend is the rising demand for automation . Confronted with the enormous pressures of rising prices , shortages of key materials and the difficulty of finding and retaining qualified staff , many IGU manufacturers are now embracing the switch to automation – and they are finding it much easier than they expected . I suspect the adoption of more automated processes will continue past the UK ’ s current economic difficulties and increasingly become the norm throughout the 2020s .
Additionally , there is a significant rise in the number of fabricators who are choosing to produce their own IGUs in-house . This is a response to the unprecedented levels of disruption in their supply chains over the past few years . This will give fabricators a greater control over their supply chains- another trend which will likely continue in the years ahead .
Regarding sustainability , there have been some notable developments . The introduction of Part L has increased the energy efficiency requirement of window products , which may account for the rising demand for triple-glazing in some quarters .
The government have also announced that they will spend £ 1bn funding measures such as loft and cavity wall insulation for homes with a low energy efficiency rating , although , at the time of writing , this spending does not appear to include window and door insulation .
Looking ahead
Economists predict that 2023 will be a difficult year for the UK . Inflation is expected to continue remain high , and a short supply of workers combined with continuing supply chain disruptions and rising fuel costs all contribute to the harder economic environment .
However , not all sectors in the UK have been or will be impacted equally . Our sector has repeatedly demonstrated its resilience . Whilst it will be affected by the broader negative economic trends , I believe it will be strong enough to withstand it . In the years to come , the prospects for glass and glazing will remain extremely bright .
The current housing crisis and climate change will necessitate a substantial amount of new-build and refurbishment work in the decade ahead , and this will drive demand for energy-efficient glazing products .
For these reasons , I continue to be very optimistic about our sector ’ s future .
www . edgetechig . co . uk
68 MARCH 2023 CLEARVIEW-UK . COM