The forecast for the import of isocyanates to Canada from 2024 to 2028 shows a steady decline in value, starting at $30.738 million in 2024 and decreasing to $22.524 million by 2028. This data indicates a consistent downward trend with an average annual decrease of approximately 6.3% over the five-year period. In 2023, the actual import value stood higher than these forecasted figures, suggesting a notable drop beginning in 2024.
Future trends to watch for include:
- The impact of changes in global supply chains and production costs, which could affect the availability and price of isocyanates.
- Environmental regulations and their influence on isocyanate usage and importation.
- Technological advancements in the alternatives to isocyanates, which could reduce dependency on imports.
- Fluctuations in the Canadian manufacturing sector influencing demand for isocyanates.
