As of 2023, Canada imported approximately 3.1 million US dollars of non-petroleum based lubricants. According to forecasts, imports are projected to decline steadily from 2024 through 2028, with values ranging from 2.9319 million USD to 2.3989 million USD by 2028. This indicates a negative year-on-year variation in imports, with a consistent decrease expected over the five-year period.
When considering potential trends affecting this decline, several factors should be watched:
- Shifts in consumer demand towards more sustainable local alternatives.
- Government policies incentivizing domestic production.
- Global trade dynamics and tariff changes impacting import costs.
