The import of flat rolled iron or non-alloy steel, painted, varnished, or coated with plastics, with a width of 600 mm or more to Canada is projected to increase steadily from 2024 to 2028. Starting at $162.73 million in 2024, it is expected to rise to $173.84 million by 2028. Compared to data leading up to 2023, where imports stood at $159.9 million, this marks a continued growth trend. Over this period, the year-on-year growth rate averages about 2% annually. The Compound Annual Growth Rate (CAGR) for the five-year forecasted period from 2024 through 2028 is approximately 1.63%.
Future trends to watch for include potential market shifts due to new trade policies, changes in global steel prices, and advancements in material technology that might impact supply chains. Additionally, economic conditions and construction demand in Canada could influence import volumes and values.
