The petroleum-based lubricant market size value per capita in Thailand is forecasted to rise steadily from 2024 to 2028. The projected figures are as follows: $7.27 in 2024, $7.38 in 2025, $7.49 in 2026, $7.59 in 2027, and $7.69 in 2028. Considering that these values are forecasted, it is important to reflect on the preceding data from 2023 to understand the trends. As of 2023, the actual value stood at $7.17 per capita.
Analyzing the year-on-year variation percentages from 2024 to 2028 shows:
- 2024: An increase of 1.39% from 2023
- 2025: An increase of 1.51% from 2024
- 2026: An increase of 1.49% from 2025
- 2027: An increase of 1.48% from 2026
- 2028: An increase of 1.32% from 2027
The compound annual growth rate (CAGR) over the last 5 years from 2023 to 2028 is approximately 1.47% per year.
Future Trends to Watch For:
The upward trend in the lubricant market value per capita suggests steady growth driven by increased industrial activities and automotive demand. Keep an eye on advancements in lubricant technology, shifts towards synthetic alternatives, and potential impacts from sustainability initiatives and regulatory policies aiming to reduce petroleum dependency.
