The forecast for Canada's import of Isobutene-Isoprene (Butyl) Rubber (IIR) indicates a declining trend from 2024 through 2028. The import in 2024 is projected at 2.0961 million kilograms, decreasing steadily each year to 1.3388 million kilograms by 2028. This represents an estimated compound annual growth rate (CAGR) of a negative percentage over the five-year period, highlighting a continuous reduction in volume. Compared to the static value of 2023, which is presumably higher, the forecasted figures indicate a shrinking demand or shifts in market dynamics.
Future trends to watch for:
- Regulatory changes affecting rubber imports.
- Shifts in demand from key sectors like automotive and manufacturing.
- Technological advancements in synthetic rubber alternatives.
- Fluctuations in global supply chains and raw material availability.
