In 2023, the value added of chemical, rubber, plastics, fuel products, and other non-metallic mineral products in Canada was estimated at approximately 62 billion Canadian Dollars. Forecasted data demonstrates a steady year-on-year increase, with values for 2024 to 2028 escalating from 63.38 to 68.35 billion CAD. Specifically, the year-on-year growth rates suggest a consistent upward trend with approximately 2% annual growth, and a compound annual growth rate (CAGR) from 2024 to 2028 expected around 1.9%.
Future trends to watch involve potential improvements in sustainable production methods, which could influence product demand and value addition positively. Additionally, geopolitical and environmental policies may impact the cost structure and distribution network within this sector, requiring close monitoring.
