From 2013 to 2023, the Cement and Concrete Product Manufacturing industry in Canada saw steady revenue growth. In 2023, revenue stood at CAD 11.155 billion, marking an annual increase of 1.05%. Over the past two years, there was consistent year-on-year growth, albeit at a modest pace. The 5-year CAGR leading up to 2023 was 0.82%, indicating a gradual increase over the medium term.
The forecast from 2024 to 2028 suggests a continuation of this growth trend, with an expected five-year CAGR of 0.78%. By 2028, revenues are projected to reach CAD 11.715 billion, representing a cumulative growth of 3.96% over this period.
Future trends to watch for:
- The impact of emerging sustainable construction practices and materials on production processes and costs.
- Technological advancements and automation in manufacturing that could offer efficiency gains and cost reductions.
- Potential shifts in infrastructure investment and construction policies by the Canadian government that may drive demand fluctuations.
