The UK import of lubricating oil additives with petroleum or bitumen oil is forecasted to decrease steadily from 2024 to 2028, with volumes dropping annually from 19.683 million kilograms in 2024 to 13.467 million kilograms in 2028. This suggests a declining trend with a compound annual growth rate (CAGR) showing a consistent reduction. In reference to 2023, imports were globally recorded at a higher figure, marking this anticipated decrease as notable.
Future trends to watch for include:
- Shifts towards more sustainable or synthetic alternatives impacting demand.
- Potential trade policy changes influencing import dynamics.
- Technological advancements altering lubricant formulation and requirements.
