The Vietnam petroleum-based lubricant market has shown fluctuating growth trends over the years. From 2012 to 2014, the market had minor decreases and increases, stabilizing with a consistent CAGR growth of 3.18% by 2015. The period from 2015 to 2018 saw more pronounced growth, peaking at an 11.97% year-on-year increase in 2018. However, the market experienced a dip from 2019 to 2021, reflecting a slight contraction before rebounding to a 7.61% increase in 2022. Over the last two years, there has been a recovery, with a positive direction visible in the recent CAGR of 3.68% by 2022.
Future trends to watch for include:
- Efforts towards industrialization and urbanization driving demand.
- Impact of technological advancements and innovations in automotive and machinery sectors.
- Potential shifts towards eco-friendly lubricants due to environmental regulations and sustainability goals.
- Fluctuations in crude oil prices affecting the raw material costs and pricing strategies.
- Increasing investments in infrastructure and transportation likely to boost the lubricant market.
| # | 43 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 8,304,600,000 | 2023 | -5.15% | -5.77% | View data |
| 2 | 2 Japan | 3,222,400,000 | 2023 | -0.53% | -0.65% | View data |
| 3 | 3 Germany | 2,383,500,000 | 2023 | +0.11% | -1.38% | View data |
| 4 | 4 France | 1,868,800,000 | 2023 | +0.13% | -0.45% | View data |
| 5 | 5 India | 1,796,200,000 | 2023 | +2.95% | +1.81% | View data |
| 17 | 17 Argentina | 354,250,000 | 2023 | +0.093% | -0.12% | View data |
| 18 | 18 Netherlands | 351,160,000 | 2023 | +3.3% | +0.88% | View data |
| 19 | 19 Vietnam | 290,400,000 | 2023 | +3.24% | +2.31% | |
| 20 | 20 South Africa | 279,170,000 | 2023 | +0.26% | -0.15% | View data |
| 21 | 21 Colombia | 264,420,000 | 2023 | +1.62% | +1.87% | View data |
