The opening inventories in the Petrochemical Manufacturing sector in Canada saw significant fluctuations from 2013 to 2023. Notably, there was a sharp decline between 2015 and 2016, followed by a partial recovery in 2017. Since 2018, the trend generally shows a progressive decline, with the inventory value standing at 271.82 million Canadian dollars in 2023. This period also indicates variable year-on-year changes with both sharp declines and brief recoveries, and a CAGR of -3.48% over the past five years.
Future trends suggest a continued decline in opening inventories, with forecast data predicting a CAGR of -4.25% over the next five years, translating to a 19.53% decrease by 2028. To counterbalance this, companies should focus on efficiency improvements, demand forecasting accuracy, and exploring new markets.
