In 2023, the import volume of wood tar and related products to the US was approximately 15.5 million kilograms. From 2024 to 2028, a steady growth is anticipated, with forecasted volumes increasing from 16.29 to 19.444 million kilograms. This reflects a year-on-year growth averaging around 4.4% over this period. The compound annual growth rate (CAGR) over these five years is expected to be approximately 4.5%. These figures suggest a consistent rise in demand, influenced possibly by industrial and manufacturing needs.
Future trends to watch for include:
- Fluctuations in the commodity prices of these products which could impact import volumes.
- Environmental policies that might affect the use and importation of these materials.
- Technological advancements potentially reducing dependency on imported wood derivatives.