The value added by non-metallic mineral product manufacturing in Canada for 2024 is forecasted to be CAD 9.38 billion. This is an increase from the current value in 2023, which stood at CAD 9.13 billion. The projections show a consistent year-on-year increase: 2025 is expected to reach CAD 9.64 billion (a 2.7% increase from 2024), 2026 at CAD 9.89 billion (a 2.6% increase from 2025), 2027 at CAD 10.14 billion (a 2.5% increase from 2026), and 2028 at CAD 10.39 billion (a 2.4% increase from 2027). The compound annual growth rate (CAGR) over the next five years is approximately 2.6%.
Future trends to watch for include technological advancements in manufacturing processes, shifts in market demand towards sustainable and eco-friendly materials, and potential impacts from trade policies or environmental regulations which could influence production costs and market dynamics.
