The forecast for imports of soaps, lubricants, waxes, candles, and modeling pastes to Canada shows a consistent upward trend from 2024 to 2028. The projected import values suggest a stable growth, reflecting an increase from 2024's $2.648 billion to $2.8298 billion by 2028. This progression indicates a continuous positive trend year-on-year, with the compound annual growth rate (CAGR) over these five years illustrating a modest escalation.
Future trends to watch for:
- Fluctuations in global oil prices impacting lubricant costs.
- Changes in consumer preferences towards sustainable and eco-friendly products.
- Trade policy adjustments potentially affecting import tariffs and regulations.
- Technological advancements leading to new product innovations in this category.
