In 2023, the closing inventories for Petroleum and Coal Product Manufacturing in Canada stood below the forecasted levels for 2024 onward. The year-on-year forecasted growth in inventories from 2024 to 2025 is approximately 2%, followed by consistent annual increases of around 1.9% from 2025 to 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) for closing inventories is estimated to be around 1.9%.
Future trends to watch for include potential market fluctuations driven by changes in global demand, regulatory shifts affecting production and inventory management, and technological advancements in manufacturing processes.
