The Canadian gypsum product manufacturing industry has seen substantial growth from 2013 onwards, reaching a revenue of CAD 1551.2 million in 2023. Between 2013 and 2018, the sector experienced notable fluctuations, peaking at a 26.47% increase in 2018. This upward momentum continued, albeit at a slower pace, with consistent growth rates of around 6% annually from 2019 through 2023. In 2023, the year-on-year growth was 5.95%, and the five-year CAGR stood at 5.62%.
In the forecasted period from 2024 to 2028, an anticipated growth rate of 20.54% with a five-year CAGR of 3.81% reflects steady but more moderate growth. Industry expectations are shifting towards sustainable practices and technological advancements, both of which are critical trends for future market performance.
