The forecasted import of non-cellular phenolic resin sheets or films to Canada shows a consistent decline from 2024 to 2028, with a steady year-over-year reduction in volume. In 2023, actual imports stood significantly higher than the forecasted values, further demonstrating this downtrend. The year-on-year percentage decrease is expected to remain constant, reflecting a weakening demand or efficiency improvements in domestic production. Calculating the compounded annual growth rate (CAGR), the average annual decrease is evident over the five-year period.
Future trends to watch include potential shifts in market dynamics such as domestic technological advancements, changes in regulatory policies affecting phenolic resin usage, or alterations in global trade agreements which might impact import needs.
