Between 2013 and 2023, Brazil's per capita market size of lubricants (excluding textile and leather use, without petroleum oil) has generally declined from $2.34 to $1.72. The most significant drop occurred between 2013 and 2020, with a slight recovery post-2020. Year-on-year growth was stagnant with minor fluctuations, with a -1.15% variation from 2022 to 2023. Over the last five years, the compound annual growth rate (CAGR) was negative, indicating a consistent reduction in market size value.
Future trends to watch for include:
- Potential shifts towards sustainable lubricant solutions.
- Technological advancements enhancing product efficiency.
- Economic factors influencing consumer purchasing power in Brazil.
