From 2013 to 2016, the Pulp, Paper, and Paperboard Mills industry in Canada saw a mix of fluctuations, with expenses peaking in 2015 at CAD 14.502 billion, followed by a decline in 2016 by 2.86%. A substantial increase was observed in 2017 and 2018, with expenses rising by 9.7% and 9.46% respectively, reaching CAD 16.916 billion in 2018. Despite a minor increase in 2019, the expenses saw a significant dip in 2020 by 11.36% to CAD 15.007 billion, likely influenced by the global economic downturn.
The industry rebounded firmly in 2021 with a 12.89% increase, followed by consistent growth in 2022 and 2023, at 8.07% and 6.5% respectively, reaching CAD 19.5 billion in 2023. Forecasts for the coming years suggest continued growth, with a forecasted CAGR of 2.76% from 2024 to 2028, projecting expenses to reach CAD 23.212 billion by 2028.
Future trends to watch for include the potential impact of sustainability initiatives, technological advancements in production efficiency, and shifts in global demand for paper products, which could all significantly influence the expense trajectory in the coming years.
