The value added of Coke and Refined Petroleum Products in Canada has seen significant fluctuations over the years. From 2013 to 2023, the values have ranged from CAD 10.13 billion to CAD 17.07 billion, with notable year-on-year changes such as a peak increase of 39.75% in 2018 and a dip of -13.11% in 2016. The average annual growth rate (CAGR) over the last 5 years leading to 2023 stands at 1.6%, indicating modest growth. For 2023, the value was CAD 17.07 billion.
Looking ahead, the forecasted value from 2024 to 2028 shows a steady increase reaching CAD 19.71 billion by 2028. The forecasted CAGR over the next 5 years is expected to be 2.26%, with an overall growth rate of 11.84% over the period.
Future trends to watch for include:
- Potential impacts of regulatory changes on the petroleum industry
- Advancements in refining technologies improving efficiency
- Market shifts towards sustainable and renewable energy sources affecting demand
- Global economic conditions influencing commodity prices and industry stability
