In 2023, Canada's import of petroleum bitumen stood at [insert actual 2023 value]. The forecasts indicate a sharp decline over the next five years, dropping from 117.73 million kilograms in 2024 to 59.871 million kilograms in 2028. The year-on-year variations show a consistent decrease, with significant drops from 2024 onwards. The forecast suggests a compounded annual growth rate (CAGR) of reduction over the five-year period, indicating a substantial shift in import levels.
Future trends to watch for include potential shifts in domestic production capabilities, changes in global supply chains affecting availability and pricing of bitumen, and regulatory policies impacting energy imports. Additionally, the advancement of alternative materials or technologies could further influence the demand landscape for petroleum bitumen imports in Canada.
