The import of urea resins and thiourea resins to Canada is forecasted to grow steadily from 69.862 million kilograms in 2024 to 82.433 million kilograms in 2028. This represents a consistent year-on-year increase in volume. Let's highlight previous performance: imports stood at 67.0 million kilograms in 2023, resulting in a year-over-year increase of approximately 4.27% from 2023 to 2024. Over five years, the compound annual growth rate (CAGR) is projected to be approximately 4.19%, indicating a stable growth pattern.
Future trends to watch for include:
- Technological advancements in the production of urea and thiourea resins that could affect import dynamics.
- Fluctuations in global petrochemical prices that may impact resin costs and import volumes.
- Trade policy changes that might alter market access or competitive positioning for suppliers.
- Rising environmental regulations potentially driving demand for more sustainable resins.
