The forecast for the import of petroleum-based lubricants used for treating textile materials, leather, and furskins in Canada shows a consistent decline over the next five years. Starting in 2024 valued at 1.4927 million USD, it decreases gradually to 1.3474 million USD by 2028. This represents a continuous trend of contraction with an average yearly decrease, expressed as a compound annual growth rate (CAGR), over this period.
Key points to consider about future trends:
- Watch for shifts in Canada's industrial demands, particularly in textiles and leather sectors, which might influence lubricant import needs.
- Technological advancements in synthetic or bio-based lubricants could impact the petroleum-based segment.
- Geopolitical and environmental policies might alter trade dynamics and costs, affecting imports and pricing.
