Rubber Product Manufacturing in Canada - Industry Market Research Report

Rubber Product Manufacturing in Canada - Industry Market Research Report

Rubber Product Manufacturing in Canada

Rubber product manufacturing in Canada has been negatively affected by fluctuations in commodity prices, including natural rubber and crude oil. The situation has led to reduced activity in various related manufacturing industries. The COVID-19 pandemic has further exacerbated the situation – severely cutting into revenue in 2020 because of high levels of economic uncertainty. More recently, manufacturers have been grappling with increased inflation and rising interest rates, putting additional pressure on demand. So industry-wide revenue has been decreasing at a CAGR of 4.2% over the past five years, including an estimated 0.6% decrease in the current year, and is expected to total $2.2 billion in 2023. In the same year, profit is projected to increase to 7.3%.

This industry manufactures a range of rubber products from doormats to rubber bands. Due to the diversity of goods, this industry sells to several downstream industries including manufacturing, construction and healthcare companies. The industry does not, however, include the following products: rubber tires and inner tubes, rubber hoses and belts, rubber gaskets, rubberized fabric, rubber clothing and gloves, rubber toys and rubber packing and sealing devices.

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.