The value added for the veneer, plywood, and engineered wood product manufacturing sector in Canada is forecasted to grow annually from 2024 to 2028, starting at 4.784 billion CAD in 2024 and reaching 5.7391 billion CAD in 2028. Compared to 2023, this represents a steady upward trend, as detailed by projected year-on-year percentage increases of about 5.08% and consistent growth, signaling robust sector performance. Over the next five years, the compound annual growth rate (CAGR) is expected to reflect this positive trend with notable increases each year.
Future trends to watch include the impacts of environmental regulations on manufacturing processes, technological advancements driving efficiency, and shifts in domestic and global market demand that could influence the production and export dynamics of engineered wood products.
