As of 2023, Canada's imports of tall oil were valued at approximately 2.6 million USD. The forecasted data indicates a consistent decline in imports from 2024 onwards. By 2028, the imports are expected to decrease to about 1.9 million USD, reflecting a year-on-year decline, averaging approximately 5% per year over this period. This suggests a Compound Annual Growth Rate (CAGR) of around -5.1% from 2024 to 2028.
Future trends to monitor include:
- Changes in global demand and production of tall oil.
- New regulations impacting tall oil imports.
- Technological advancements and their impact on domestic production capabilities.
- Sustainability initiatives that could influence both supply and demand dynamics.
