The closing inventories of Textile and Fabric Finishing and Fabric Coating in Canada were valued at 47.17 million CAD in 2023. Over the last two years, the market exhibited slight declines, with a decrease of 4.32% in 2022 and 4.47% in 2023. Analyzing the data from 2013 to 2023, there is an initial period of fluctuations followed by a gradual declination from 2020 onwards.
Between 2018 and 2020, the market showed a decreasing trend, recording a CAGR of -1.54% to -3.09%. The projections from 2024 to 2028 reveal a continued downward trend, with a 5-year CAGR forecasted at -4.11% and an overall decrease of 18.95% by 2028.
Future trends to watch for:
- Potential impacts of sustainable practices on inventory levels.
- Technological advancements in fabric finishing and coating.
- Shifts in consumer preferences towards eco-friendly products.
- Global economic factors influencing production and inventory management.
