Key Market Indicators
Canadian Aromatics Export is projected to reach approximately $91,000 by 2028, up from $88,000 in 2023. This represents a modest growth rate of 0.6% annually. However, since 1994, the country's supply has decreased by an average of 7% each year. As of 2023, Canada ranked 21st in the global market, with South Africa surpassing it with an equivalent export value of $88,000. Leading the rankings were China, India, and Japan, occupying the second, third, and fourth positions, respectively. In contrast, Canadian Aromatics Import is expected to decline to around $519,000 by 2028, down from $613,000 in 2023. This marks a decrease at a compound annual growth rate of 2.6%. Despite this decline, Canadian demand for aromatics has increased by 1.2% annually since 1994.
