The import of Polymers of Ethylene to Canada in 2023 stood at 1.3935 Billion USD. Since 2013, there have been significant fluctuations in the import values, reflecting various market dynamics and economic factors. Notably, year-to-year variations showed both increases and declines, with remarkable growth in 2017 (17.93%) and significant decline in 2019 (-17.17%). Despite the volatility, the recent two years, 2022 and 2023, experienced stable growth of 6.39% and 1.03% respectively. The Compound Annual Growth Rate (CAGR) over the last 5 years was relatively modest at an average decrease of -1.65% per year.
Future projections from 2024 to 2028 suggest a gradual and steady increase in the import values with an anticipated forecasted 5-year CAGR of 0.84% and a total growth rate of 4.25%. This indicates a positive but cautious outlook for the import market of Polymers of Ethylene.
Future Trends to Watch For:
- Potential impact of global trade policies and tariffs on import pricing.
- Technological advancements and innovation in polymer production.
- Shift towards sustainable and eco-friendly materials possibly affecting demand.
- Economic conditions and industry demand in key sectors such as automotive, construction, and packaging.