The Value Added of Glass and Glass Product Manufacturing in Canada experienced fluctuations from 2013 to 2023. Starting at 740.33 million Canadian dollars in 2013, it reached 953.73 million Canadian dollars by 2023. The industry saw significant year-on-year variations, with noticeable increases in 2014 (7.13%), 2016 (6.46%), and a peak in 2017 (23.73%), while some years, such as 2015 and 2018, experienced declines of -3.1% and -10.94% respectively. Over the last five years, the Compound Annual Growth Rate (CAGR) was 1.13%, indicating moderate growth.
Future trends to watch for include:
- The forecasted growth rate of 3.6% over the next five years, suggesting steady industry expansion.
- A forecasted CAGR of 0.71% from 2024 to 2028, indicating a cautious optimism in future performance.
- Potential impacts from new technologies, sustainability initiatives, and changes in domestic and international demand.