In 2023, the import value of lubricating preparations and those used in oil or grease treatment of textiles to Canada stood at an estimated $351.0 million. From 2024 to 2028, there is a consistent forecasted growth in import value, increasing from $359.1 million to $395.57 million. Each year records approximately a 2.5% year-on-year growth on average. Over the five-year forecast period, the compound annual growth rate (CAGR) is projected to be around 2.4%.
Future trends to watch include increased demand driven by technological advancements in textile manufacturing and greasing processes, along with shifts towards more sustainable lubricating solutions. Monitoring the global economic climate and trade policies will be critical as these could impact import levels.
