Based on the forecasted data, Canadian imports of flexible plastic tubes, pipes, and hoses with a minimum burst pressure of 27.6 Mpa are set to steadily increase from 2024 to 2028, moving from $32.867 million in 2024 to $34.234 million by 2028. This indicates a stable growth trajectory. Assuming a consistent growth similar to previous trends, 2023 figures would likely have been below $32.867 million, as 2024 shows an increase.
Year-on-year growth percentages from 2024 to 2028 exhibit gradual increases:
- 2025: 1.07%
- 2026: 1.04%
- 2027: 1.01%
- 2028: 0.98%
The compound annual growth rate (CAGR) over this five-year period averages around 1.03%, highlighting consistent, albeit moderate, growth.
Future trends to watch for include fluctuations in global supply chains, changes in manufacturing technology, and potential environmental regulations impacting the production and use of plastics. Additionally, shifts in demand from industries relying on these products could also play a significant role in shaping import dynamics.
