The forecast for Canada's import of petroleum coke and petroleum bitumen shows a steady decline from 2024 to 2028. Starting at 375.84 million USD in 2024, it decreases consistently year-on-year, reaching 357.57 million USD by 2028. Compared to 2023, the import value decreased from an unspecified higher level, indicating a contracting trend.
The average annual percentage change (CAGR) over the forecasted five-year period reflects a negative growth trajectory, suggesting a continuous downward trend in imports. This decline might be driven by either reduced demand, increased local production, or shifts in energy consumption patterns.
Future trends to monitor include advancements in renewable energy, shifts in global crude oil prices affecting petroleum product economics, and regulatory changes in environmental policies that might impact the need for petroleum coke and bitumen imports.
