In 2023, Canada imported amino-resins, phenolic resins, and polyurethanes valued at $706 million, establishing a foundation for future growth. The forecast for 2024-2028 indicates a steady increase from $722.07 million to $788.03 million, showing a gradual annual growth. The year-on-year growth rate is approximately 2.4%, reflecting modest but consistent demand. The compounded annual growth rate (CAGR) for this five-year period hovers around 2.1%, indicating a stable market outlook.
Future trends to watch for include advancements in resin technology, increasing environmental regulations, and potential trade policy changes which could impact import dynamics. Monitoring these factors will be crucial for strategic planning.
