In 2023, the value added of fabric coating in Canada stood at 95.68 million Canadian Dollars. Moving into 2024, the sector is forecasted to grow to 96.98 million CAD, marking a year-on-year increase of approximately 1.36%. The trend continues with an incremental annual growth rate as follows:
- 2025: 98.36 million CAD, an increase of 1.42% over the previous year
- 2026: 99.73 million CAD, an increase of 1.39% over the previous year
- 2027: 101.08 million CAD, an increase of 1.35% over the previous year
- 2028: 102.42 million CAD, an increase of 1.32% over the previous year
Over the last two years, the fabric coating industry in Canada saw an average annual growth rate of 1.38%. The compound annual growth rate (CAGR) for the sector from 2024 to 2028 is anticipated to be approximately 1.37%.
Future trends to watch for include technological advancements in fabric coating techniques, increasing demand for high-performance textiles in various industries, and a shift towards sustainable and eco-friendly coating materials. Monitoring these trends could provide insights into potential accelerators or barriers to growth within this sector.
