The petroleum-based lubricant market size value per capita in Sri Lanka declined consistently from 2018 to 2023, going from $1.91 to $1.28. From 2022 to 2023, the value dropped by approximately 6.6% and showing a declining trend with a negative CAGR of around 5.2% over the last five years. This reflects a steady decrease in per capita spending on petroleum lubricants, influenced by market dynamics and economic factors impacting consumer expenditure in this sector.
Future Trends to Watch:
- Transition towards environmentally friendly alternatives could affect demand.
- Economic recovery strategies might stabilize or stimulate the market.
- Technological advancements in lubricant efficiency.
| # | 43 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 40.43 | 2023 | View data | ||
| 2 | 2 Iceland | 40.38 | 2023 | View data | ||
| 3 | 3 Sweden | 39.21 | 2023 | View data | ||
| 4 | 4 Norway | 35.62 | 2023 | View data | ||
| 5 | 5 Canada | 32 | 2023 | View data | ||
| 41 | 41 Pakistan | 1.85 | 2023 | View data | ||
| 42 | 42 India | 1.3 | 2023 | View data | ||
| 43 | 43 Sri Lanka | 1.28 | 2023 | |||
