The glass and glass product manufacturing opening inventories in Canada have demonstrated consistent growth from 2013 to 2023. In 2023, the value stood at CAD 265.54 million. The year-on-year variation highlights fluctuations, with a notable dip in 2014 by -5.43%, followed by periods of stronger growth, peaking with an 11.76% increase in 2018. Over the last two years leading to 2023, the growth rates were more stable, showing a 3.08% increase in 2022 and 2.96% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years was 2.9%, reflecting a moderate upward trend.
Looking ahead, the forecast data predicts a gradual increase in inventories, reaching CAD 302.6 million in 2028. The forecasted 5-year CAGR is 2.07%, with an overall forecasted 5-year growth rate of 10.8%. This indicates a continued but slower rate of growth compared to previous years.
Future Trends to Watch For:
- Technological advancements in glass manufacturing processes.
- Fluctuations in raw material prices and their impact on inventory.
- Regulatory changes affecting the glass industry both domestically and internationally.
- Demand shifts driven by construction and automotive industry trends.
