The forecasted import of asbestos-cement and cellulose fibre-cement to Canada from 2024 to 2028 shows a steady increase, reflecting an upward trend. Starting from a forecasted value of $120.97 million in 2024, it is expected to reach $133.32 million by 2028. The compound annual growth rate (CAGR) over these five years is indicative of moderate but consistent growth in this sector, at approximately 2.45% per year.
Key insights include:
- The year-on-year growth is consistent, averaging around 2.5% annually.
- Import levels in 2023 stood at a similar range, marking the progression into 2024.
Future trends to watch for include potential regulatory changes impacting asbestos use, shifts in demand due to construction industry dynamics, and the influence of environmental and health concerns on the importation of these materials. Additionally, technological advancements in alternative materials could affect future import volumes.
