The Gypsum Product Manufacturing sector in Canada has shown a fluctuating trend in salaries and wages from 2013 to 2023. In 2013, the total value stood at CAD 117 million, experiencing a decline over the subsequent years until it rebounded in 2016. Post-2016, there has been a consistent upward trajectory, reaching CAD 191.77 million in 2023. The compound annual growth rate (CAGR) over the past 5 years was 4.06%, with notable year-on-year variations such as 4.28% in 2023 and 4.52% in 2022. Looking forward, the sector is expected to continue this positive trend, with a forecasted 5-year CAGR of 2.88% and an overall growth rate of 15.23% by 2028.
Future trends to watch for in the Gypsum Product Manufacturing industry include:
- Increased automation and technological advancements, potentially driving efficiency and affecting labor demand.
- Shifts in construction sector demands, which heavily influence gypsum product usage and, consequently, workforce requirements.
- Policy and economic changes such as trade agreements or environmental regulations that may impact the industry’s operational costs and wage structures.
