From 2013 to 2015, the salaries and wages in the petrochemical manufacturing sector in Canada showed consistent year-on-year growth, peaking significantly in 2017. This increase was followed by a declining trend starting in 2018. By 2023, the value of salaries and wages stood at 198.18 million Canadian dollars.

Over the past two years, the market has experienced a significant decline, with a negative year-on-year growth rate of -3.44% in 2023. The compound annual growth rate (CAGR) over the last five years has also been negative at -3.0%, reflecting an overall downturn in this sector.

Future trends to watch for include:

Persistent decline in salaries and wages forecasted through 2028, indicating potential industry challenges.
Economic factors and market conditions that could further impact the petrochemical sector's financial health.
Policies and technological advancements that might either mitigate or exacerbate the projected decline.