The market size value per capita for lubricants used in textiles and leather, composed of less than 70% petroleum oil, showed varying trends in South Africa from 2013 to 2023. Starting at $0.081 in 2013, it decreased to $0.065 by 2023. The year-on-year change from 2022 to 2023 was a slight decrease of 1.52%. Over the past five years, the compound annual growth rate (CAGR) has been approximately -0.61%, indicating a steady decline in per capita value.
Looking forward, key trends to watch include potential shifts in industry demand influenced by technological advancements, sustainability initiatives, and economic factors. The emphasis might also shift towards bio-lubricants as industries focus on reducing environmental impact.
