The import of diols, excluding ethylene and propylene glycol, to Canada is forecasted to decline steadily from 2024 to 2028. In 2023, the volume stood at approximately 2.5 million kilograms. The predicted trend shows a decrease to 1.6656 million kilograms by 2028, indicating a compound annual growth rate (CAGR) of -8.21% over the five-year period. This steady decline reflects a year-on-year decrease, highlighting a diminishing demand or a potential shift towards domestic production or alternative products.
Future trends to watch for:
- Monitoring shifts towards sustainable or alternative materials.
- Impact of economic policies on import regulations and demand.
- Advancements in local production capacities reducing import dependence.
