Forecast: Import of Soaps, Lubricants, Waxes, Candles and Modelling Pastes to the US

By reviewing the given data, the forecast for imports of soaps, lubricants, waxes, candles, and modeling pastes to the US is promising. The import value is projected to rise from $4.34 billion in 2024 to $4.76 billion in 2028. The year-on-year growth rates post-2024 are as follows: 2.5% (2025), 2.39% (2026), 2.27% (2027), and 2.19% (2028). The compounded annual growth rate (CAGR) for this five-year period stands at approximately 2.34%, indicating a steady upward trend. For reference, the import value stood at $4.26 billion in 2023.

Future trends to watch for include:

  • Increasing demand for eco-friendly and sustainable products, affecting the composition of imports.
  • Technological advancements in manufacturing, potentially influencing import patterns.
  • Shifts in global supply chain dynamics and trade policies impacting import volumes and costs.

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