The value added of Non-Metallic Mineral Products in Canada, expressed in Billion Canadian Dollars, has shown varying trends over the past decade. Between 2013 and 2015, there were slight decreases in value, followed by a marginal recovery from 2016. The most notable growth occurred from 2017 to 2019, peaking in 2018. The period from 2020 to 2023 saw stable yet modest growth, with value standing at 8.7 Billion Canadian Dollars in 2023. The year-on-year variations over the last two years were 1.03% and 1.01%, revealing consistent incremental increases. The Compound Annual Growth Rate (CAGR) over the last five years was approximately 0.7%, indicating slow but steady growth.
Forecasts predict continued positive growth through to 2028, with expected values reaching 9.12 Billion Canadian Dollars. The forecasted CAGR over the next five years is 0.76%, representing a total growth rate of 3.84%. Future trends to watch include technological advancements in production processes, shifts towards sustainable practices within the industry, and potential impacts from global economic conditions affecting the demand for non-metallic mineral products.
