The forecast for the re-import of lubricating oil additives without petroleum or bitumen oils to Canada shows a declining trend from 2024 to 2028. The projected volumes are 2.66, 2.35, 2.05, 1.76, and 1.48 thousand kilograms respectively. This indicates a year-on-year decrease in volumes, with a substantial projected drop from 2023 levels, though the exact 2023 figure is not provided in the data. The cumulative average growth rate (CAGR) over this period points to a consistent decrease in re-import volumes.
Future trends to watch for:
- Shifts in global supply chains affecting import patterns.
- Technological advancements in additive formulations reducing overall demand.
- Potential impact of sustainability and environmental regulations on import volumes.