Forecast: Import of Polymers of Styrene to Canada

The import of polymers of styrene to Canada in 2024 is forecasted to be 368.09 million US dollars. This represents a decline when compared to previous years, with a slight decreasing trend. The values are expected to gradually decrease year on year: 366.46 million US dollars in 2025, 364.87 million US dollars in 2026, 363.32 million US dollars in 2027, and 361.79 million US dollars in 2028. The year-on-year variation reveals a gradual reduction in the import values, which suggests a consistent downward trend.

When analyzing the variations:

  • From 2024 to 2025: -0.44%
  • From 2025 to 2026: -0.43%
  • From 2026 to 2027: -0.43%
  • From 2027 to 2028: -0.42%

The Compound Annual Growth Rate (CAGR) over the five-year forecast period indicates an average annual decrease of approximately 0.43%. This continued decline could be due to evolving market dynamics, shifts toward alternative materials, or changes in demand from key industries reliant on polymers of styrene.

Future trends to watch for include advances in recycling technologies, regulatory changes, and the growth of sustainable and bio-based alternatives that could further impact the demand and import volumes of styrene polymers in Canada.