In 2023, India's import of lubricating oil additives without petroleum or bitumen oils stood at an estimated 14.5 million kilograms. The forecasted data from 2024 to 2028 shows a consistent upward trend in import volumes. The import value is projected to increase from 15.023 million kilograms in 2024 to 17.002 million kilograms in 2028, reflecting a steady increase in demand. The year-on-year growth rates for 2024 to 2028 range from approximately 3.4% to 3.7%, and the compound annual growth rate (CAGR) over this forecast period is expected to be around 3.3%.
Future trends to watch for include technological advancements in automotive and industrial sectors driving higher demand for advanced lubricating additives. Additionally, evolving environmental regulations could influence the composition and demand for these additives, potentially impacting import volumes in the coming years.
