The market size value per capita for lubricants used in textile and leather in China showed minor fluctuations over the years, standing at USD 0.72 in 2023. Over the past two years, the market indicated a year-on-year growth of about 7% from 2021 to 2022 and a 1.4% increase from 2022 to 2023. Analyzing the wider context, the Compound Annual Growth Rate (CAGR) from 2018 to 2023 was around 0.9%, revealing a trend of modest, yet steady growth recovery post-2020.
Looking forward, potential growth might be fueled by increasing demand for sustainable and less petroleum-heavy lubricants, as well as advancements in textile and leather production technologies that optimize lubricant efficacy and environmental compliance.
