The Paint and Coating Manufacturing closing inventories in Canada stood at 391.88 million CAD in 2023. Over the last decade, the inventory levels have shown fluctuations with significant changes such as a drop in 2015 (-15.07%) and a peak in 2018 (9.4%). Year-on-year variations for the last two years were 1.27% in 2022 and 1.24% in 2023. The compounded annual growth rate (CAGR) over the last five years was 1.17%. The inventories are forecasted to grow steadily, with a CAGR of 0.92% over the next five years, reaching a forecasted 415.13 million CAD by 2028.
Future Trends to Watch:
• Technological advancements in production processes, aiming for more efficiency.• Increasing demand for eco-friendly and sustainable coatings.• Market consolidation leading to less variation in inventory levels.
