In 2023, the value added of rubber and plastics products, and other non-metallic mineral products in Canada was approximately 21.23 billion Canadian dollars. Forecasted data from 2024 to 2028 suggests a steady growth, with a value increase from 21.55 billion in 2024 to 22.8 billion by 2028.
Year-on-year variations indicate:
- 2024-2025: 1.49%
- 2025-2026: 1.46%
- 2026-2027: 1.40%
- 2027-2028: 1.33%
The compound annual growth rate (CAGR) from 2024 to 2028 is forecasted at approximately 1.44%, indicating sustained industry growth.
Future trends to watch include technological advancements in production efficiency, shifts in global trade policies, and environmental regulations that may influence market dynamics. Sustainability initiatives and potential changes in consumer preferences for eco-friendly products may also create new opportunities and challenges within the industry.
