The lubricant (excluding textile and leather use) market value per capita in Morocco has shown a gradual increase from 2013 to 2023, reaching $0.90 in 2023. The market experienced a dip in 2020, attributed to potential economic challenges, before recovering in 2021. In recent years, from 2021 to 2023, there was a noticeable upward trend, with a year-on-year growth rate of approximately 6% from 2022 to 2023. The compound annual growth rate (CAGR) over the last five years is about 1.12%, reflecting a stable increase over time.
Future trends to watch for include the potential impact of technological advancements in lubricant formulations and the industry's focus on sustainability, which could drive growth. Additionally, global economic factors and changing automotive and industrial lubricant needs may influence market dynamics.
