In 2023, the Value Added of Pulp Mills in Canada stood at 4.044 billion CAD. Over the past years, the sector has experienced fluctuations: substantial growth from 2014 to 2015, a dip in 2016, a peak in 2018, and a significant decline in 2019 and 2020. The recovery began in 2021 with remarkable growth, followed by a steadier increase up to 2023. The last two years saw more stable increases, 11.8% in 2022 and 8.68% in 2023. The 5-year CAGR leading up to 2023 was 0.31%.
Moving forward, the forecasted data predicts steady growth, with the Value Added reaching 4.783 billion CAD by 2028. The predicted 5-year CAGR is 2.66%, indicating moderate, consistent growth, and a forecasted 5-year growth rate of 14.02%. Future trends to watch for include industry sustainability initiatives, potential impacts of global trade policies, technological advancements in pulp production, and fluctuations in demand due to changes in consumer behavior.
In summary:
• 2023: 4.044 billion CAD
• 2022-2023: 8.68% growth
• 5-year CAGR up to 2023: 0.31%
• Forecasted 5-year CAGR from 2024: 2.66%
• Predicted 2028: 4.783 billion CAD
