The manufacturing output for rubber, plastics, and other non-metallic mineral products in Canada, expressed in value terms, shows a steady forecasted growth from 2024 to 2028. In 2023, the output stood at CAD 56.32 billion. Year-on-year growth is forecasted at approximately 1.24% for 2024, 1.25% for 2025, 1.20% for 2026, and 1.17% for 2027. The compound annual growth rate (CAGR) for the 2024-2028 period is projected at approximately 1.20%.
Future trends to watch include the impact of advanced manufacturing technologies, such as automation and sustainable materials innovation, which may further drive efficiencies and growth. Additionally, shifts in global trade policies and environmental regulations could significantly affect the industry. Monitoring these factors will be critical for stakeholders to adapt and capture opportunities in this evolving market.
