Plastic & Resin Manufacturing in Canada - Market Research Report (2014-2029)

Hard shell: Steady key input commodity prices will place upward pressure on industry revenue

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Plastic and resin manufacturers have undergone fluctuations in revenue because of various shifts in the economy. The pandemic placed downward pressure on revenue as many downstream markets that manufacturers cater to were either temporarily shut down or operating at a limited capacity. As the pandemic subsided, crude oil and natural gas prices skyrocketed, causing suppliers to raise prices on raw materials. Manufacturers were forced to charge higher prices and even sacrifice profit to maintain steady sales. Overall, revenue is expected to increase at a CAGR of 1.8% to $13.9 billion through the end of 2023. This includes a 3.4% decline in 2023, as the price of commodities is set to creep downward.

Operators in the Plastic and Resin Manufacturing industry in Canada manufacture resins, plastic materials (i.e. polymers) and synthetic rubber. Key product groups include thermosetting resins, thermoplastic resins and synthetic rubber. Raw material inputs are sourced from chemical industries and those involved in petroleum-based feedstock production.