The Gypsum Product Manufacturing Opening Inventories in Canada showcased a steady increase over the past decade, rising from 54.65 million CAD in 2013 to 103.28 million CAD in 2023. As of 2023, the inventory stood at 103.28 million CAD. Year-on-year growth varied, with significant jumps noted in 2014 (30.26%) and consistent incremental increases in recent years averaging around 5-6%. Notably, the Compound Annual Growth Rate (CAGR) over the last 5 years was 6.39%.
Looking ahead from 2024, the forecasted data suggests continued growth albeit at a moderated pace. The forecasted CAGR for the next 5 years stands at 3.56%, translating into a growth rate of 19.12% by 2028. This indicates a stable yet slower rate of expansion compared to previous years.
Future trends to watch for include potential impacts of supply chain disruptions, environmental regulations, and the housing market's performance. Additionally, advancements in manufacturing technology and a shift towards sustainable products could drive further changes in the industry dynamics.
