U.S. Vehicle Sales—Demographic and economic signs point to a slowdown in U.S. vehicle sales. Canadian vehicle and parts production (which includes automotive plastics and tires) should moderate.
Market Access—The signing of the new Canada–United States–Mexico Agreement (CUSMA) has reduced uncertainty about access to the industry’s largest export market and free trade agreements with Europe and several Pacific Rim countries are facilitating new export opportunities. These developments are supporting the export outlook for Canadian plastic and rubber producers.
New Plastics Economy—The environmental effects of plastics are encouraging consumers, businesses, and countries to reduce their use of single-use plastics and increase the life cycle of existing plastic products.