In 2023, the lubricants consumption in international maritime bunkers in Italy stood at 28.50 thousand tonnes of oil equivalent. The forecasted data for the years 2024-2028 suggests a steady year-on-year decline: from 27.99 in 2024 to 26.46 in 2028. This indicates a gradual reduction in consumption, reflecting a deceleration trend with a Compound Annual Growth Rate (CAGR) declining over these years.
Future trends to watch for include:
- Technological advancements in marine engine efficiency which may further reduce lubricant demand.
- Environmental regulations pushing for greener shipping solutions could impact lubricant compositions and volumes.
- Market shifts toward alternative fuels may change lubricant needs or reduce dependence on traditional products.