The Canadian wood chips and wood particles industry has seen significant fluctuations over the past decade. Starting with a peak of 25.774 million cubic meters in 2013, production has experienced both growth and sharp declines, notably a 40.79% reduction in 2017. By 2023, production stood at 11.971 million cubic meters, reflecting a year-on-year decrease of 12.55% and a 5-year CAGR of -6.25%. The most disturbing trend is the forecast suggesting a further decline to 3.9841 million cubic meters by 2028, representing a future 5-year CAGR of -17.37% and a 61.47% decrease from 2023 levels.

Future Trends to Watch for:

Increasing demand for sustainable and renewable energy sources which could impact wood chip utilization.
Technological advancements in wood processing that might reduce waste and increase efficiency.
Potential government policies focused on forest conservation and environmental protection affecting production levels.
Fluctuations in the global markets for wood-based products stimulating various levels of production adjustments.