From 2013 to 2023, the market size value per capita for lubricants used in textile and leather sectors in Thailand fluctuated, reaching USD 0.64 by 2023. Analyzing recent trends, there was a +2.7% year-on-year increase from 2022 to 2023, following a more moderate year-on-year rise of +4.7% from 2021 to 2022. Over the five years from 2019 to 2023, the compound annual growth rate (CAGR) was approximately -0.16%, highlighting stability yet slight decline over the period.
Looking to the future, watch for advancements in sustainable and eco-friendly lubricant solutions, aligning with global environmental trends. Innovations and shifts toward bio-based products may influence market demand and value.
