The forecast for the import of high tenacity viscose yarn to Canada indicates a steady decline from 2024 to 2028. The import volume is anticipated to decrease from 14.55 thousand kilograms in 2024 to 11.26 thousand kilograms in 2028. If we consider 2023 as a baseline, it's crucial to note that this downward trend underscores a consistent reduction in demand or an increase in domestic production or sourcing alternatives.
Year-on-year, the projected changes indicate a consistent reduction of approximately 5.5% annually, while the compound annual growth rate (CAGR) over the five-year period is expected to average at about -5.4%.
Future trends to watch include potential shifts in the global supply chain, impacts of sustainable and eco-friendly regulations, and fluctuations in demand from related textile industries. Monitoring these trends will provide insights into whether this decline will persist or if corrective actions are needed to address import dependency changes.
