From 2013 to 2023, Pakistan's petroleum-based lubricant market size value per capita increased from $1.07 to $1.85 USD. Between 2022 and 2023, there was a year-on-year increase of about 1.6%. The compounded annual growth rate (CAGR) from 2018 to 2023 was approximately 1.96%. Notable fluctuations occurred in 2020 with a decrease likely due to economic impacts from the pandemic, and a recovery in 2021.
Future trends to watch for include:
- Potential growth driven by industrial expansion and increased vehicle ownership.
- Impact of policies promoting environmental sustainability, potentially leading to increased demand for bio-based lubricants.
- Economic shifts and regulatory changes affecting the lubricant market dynamics.
| # | 43 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 40.43 | 2023 | View data | ||
| 2 | 2 Iceland | 40.38 | 2023 | View data | ||
| 3 | 3 Sweden | 39.21 | 2023 | View data | ||
| 4 | 4 Norway | 35.62 | 2023 | View data | ||
| 5 | 5 Canada | 32 | 2023 | View data | ||
| 39 | 39 Indonesia | 2.63 | 2023 | View data | ||
| 40 | 40 Bolivia | 2.17 | 2023 | View data | ||
| 41 | 41 Pakistan | 1.85 | 2023 | |||
| 42 | 42 India | 1.3 | 2023 | View data | ||
| 43 | 43 Sri Lanka | 1.28 | 2023 | View data | ||
