From 2013 to 2023, the polyethylene production in Canada has shown fluctuating year-on-year variations, with notable peaks and declines. In 2023, production stood at 4.0199 million metric tons, reflecting a 12.31% increase from the previous year. Historically, the compound annual growth rate (CAGR) over the past five years has been modest at 1.06%. Looking forward from 2024, forecasts indicate a steady rise, culminating in production reaching 4.2971 million metric tons by 2028, implying a forecasted 5.41% growth over five years and an annualized CAGR of around 1.06%.
Future trends to watch for include:
- Technological advancements in production processes to increase efficiency and reduce costs
- Environmental regulations impacting the production and use of polyethylene
- Market demand shifts due to increased focus on sustainable packaging and alternatives to polyethylene
- Global economic factors influencing raw material availability and pricing
- Potential geopolitical events impacting trade and production capacities.