In 2023, Canada's import value of urea resins and thiourea resins stood at approximately 54.0 million US dollars. From 2024 onwards, a steady increase is forecasted, with the import value expected to reach 66.251 million US dollars by 2028. The year-on-year growth rates are approximately 4.59% for 2025, 4.30% for 2026, 4.03% for 2027, and 3.80% for 2028. Over this period, the compound annual growth rate (CAGR) averages around 4.6%, indicating consistent growth in Canada's demand for these resins.
Future trends to watch for include:
- Technological advancements in resin production affecting global supply.
- Changes in trade policies influencing import tariffs and logistics.
- Environmental regulations driving demand towards more sustainable alternatives.
