The market for lubricants in Israel, excluding textile and leather use and composed of less than 70% petroleum oil, has shown varied growth patterns over the past decade. The market value in 2023 stood at $64.257 million, indicating a modest year-on-year growth of 2.47% from 2022. Over the last five years, the compound annual growth rate was approximately 2.97%, signifying a steady overall growth trajectory with specific downturns in 2018 and 2020.
Future trends to monitor include technological advancements in lubricant formulations, environmental regulations affecting production, and shifts in consumer demand towards sustainable products. These factors are likely to influence market dynamics in the coming years.
