The chemicals manufacturing output in Canada has shown a consistent upward trajectory from 2024 to 2028, with forecasted values increasing year by year from 48.41 billion Canadian dollars in 2024 to 50.3 billion Canadian dollars in 2028. The year-on-year growth rates from 2023 to 2024, 2024 to 2025, 2025 to 2026, 2026 to 2027, and 2027 to 2028 are 0.99%, 0.95%, 0.98%, 0.97%, and 0.93% respectively.
In 2023, the actual value of the chemicals manufacturing output stood at 47.94 billion Canadian dollars, reflecting an increase from the previous year. The compound annual growth rate (CAGR) over the past five years, from 2023 to 2028, averages at approximately 0.96% per year.
Future trends to watch for include technological advancements in chemical manufacturing processes, fluctuations in global demand for Canadian chemical products, and possible regulatory changes impacting the industry. Sustainability and environmentally-friendly practices might also drive future growth and innovation within the sector.
