The forecast for the re-import of non-petroleum based lubricants to China indicates a declining trend from 2024 through 2028. Starting at 248.04 thousand kilograms in 2024, the volume is expected to decrease consistently year-on-year, reaching 192.73 thousand kilograms by 2028. The annual percentage decline reflects this downward trend, with a slightly accelerated decrease predicted over these five years. Prior to 2024, actual data from 2023 is necessary for exact percentage analysis but is not provided here. The Compound Annual Growth Rate (CAGR) over the forecast period suggests a consistent contraction in import volumes.
Future trends to watch for include:
- Potential shifts in domestic production capabilities or substitution with alternative products could affect import levels.
- Regulatory changes and trade agreements that impact supply chain dynamics.
- Technological advancements in lubricant formulations that favor local production over imports.
- Economic factors, such as GDP growth and industrial demand fluctuations in China, influencing import needs.
