The Canadian market for lubricants made of less than 70% petroleum oil showed a mixed trend between 2013 and 2023. Valued at $701.99 million USD by 2023, the market experienced significant fluctuations with a notable downturn in 2020 followed by a recovery. The year-on-year variations highlight these fluctuations, with a sharp 15.4% decline in 2020, but a robust recovery of 16.58% in 2021. Over the past five years, the compound annual growth rate (CAGR) averaged at 1.72%, indicating modest but stable growth.

Future trends to watch for in the Canadian market include:

An increasing shift towards environmentally friendly and sustainable lubricant formulations, driven by regulatory and consumer demand.
Technological advancements in synthetic and bio-based alternatives that could enhance performance and reduce dependency on petroleum-based products.
The impact of economic and industrial developments on the demand for industrial lubricants.