In 2023, the actual import value of liquefied butanes to Canada was robust. However, the forecasted data from 2024 to 2028 indicates a clear downtrend in the import value. The import value is expected to decline from USD 52.289 million in 2024 to USD 18.9 million by 2028.
The year-on-year percentage variations suggest a consistent decrease in imports:
- -16.41% from 2024 to 2025
- -19.29% from 2025 to 2026
- -23.47% from 2026 to 2027
- -29.97% from 2027 to 2028
The cumulative average growth rate (CAGR) over the 5-year forecast period is indicative of a significant downward trend.
Future trends to watch for include potential policy changes affecting the energy sector, shifts in the global supply chain, technological advancements in alternative energy sources, and economic factors that may impact import demands. Potential developments in domestic production capabilities could also significantly alter the import landscape.
