The forecast for the import of asbestos friction materials and articles to Canada reveals a steady decline from 2024 through 2028, starting at 28.854 million USD in 2024 and decreasing to 26.649 million USD by 2028. In 2023, the import value was 29.424 million USD (assumed based on a combination of data trend analysis from previous years). Year-on-year analysis shows an average decline of approximately 2% each year over the forecast period. The compound annual growth rate (CAGR) over the five years is estimated to be negative, indicating a consistent downward trend.
Future trends to watch for include potential regulatory changes regarding asbestos use, which may further impact import volumes. Additionally, technological advancements in alternative materials could accelerate this decline if they become more cost-effective and widely adopted.
