The import of non-petroleum-based lubricating oil to Canada is forecasted to rise steadily from 2024 to 2028, with values increasing from $134.05 million in 2024 to $144.18 million by 2028. The year-on-year growth rate averages around 1.81% over this period. As of 2023, the actual import value stood below the 2024 forecast, indicating a growth trajectory. The Compound Annual Growth Rate (CAGR) over the forecast period suggests consistent expansion in line with evolving industrial needs and environmental priorities.

Future trends to watch for include:

Increased demand for environmentally friendly lubricants driven by regulatory changes.
Technological advancements enhancing lubricant efficiency.
Potential impact of geopolitical factors on trade policies and cost variations.