The forecast shows a consistent upward trend in the re-import of petroleum-based lubricating oil to Canada from 2024 to 2028, starting at 952.94 thousand USD in 2024 and reaching 1110.7 thousand USD in 2028. Comparing year-on-year, the increases suggest steady growth, with the highest growth anticipated at approximately 4% annually from 2025 onwards. As of 2023, the specific value was not provided but serves as a base for understanding future growth trajectories. The compound annual growth rate (CAGR) over these five forecasted years is relatively modest, indicating steady rather than exponential growth.

Future trends to watch for:

Global demand for lubricant oil and geopolitical factors affecting trade.
Technological advancements in lubricant efficiency could alter import requirements.
Environmental regulations may influence market dynamics, pushing for greater efficiency and lower dependency on imports.