From 2013 to 2016, the petrochemical manufacturing closing inventories in Canada showed a clear downward trend, plunging significantly in 2015 by 26.64%. The figures presented a notable recovery in 2017 with a robust increase of 34.29% but exhibited a general decline thereafter. By 2023, inventories stood at 284.74 million Canadian dollars, marking a year-on-year decrease of 2.4% and a Compound Annual Growth Rate (CAGR) of -2.45% over the last five years.

Looking forward, the forecast from 2024 to 2028 anticipates a continued decline, with a CAGR of -2.03% over the next five years and an overall decrease of 9.73% from 2023 to 2028.

Future trends to watch for include:

Potential shifts in global and local demand for petrochemical products which could influence inventory levels.
Technological advancements and operational efficiencies that may alter the dynamics of inventory management.
Changes in policy and regulation, particularly around environmental compliance and sustainability.
Economic factors and market conditions both globally and in Canada that might impact production and consumption rates.