As of 2023, the market size value per capita for lubricants in Canada, made from less than 70% petroleum oil, stood at an actual figure. Forecasts from 2024 through 2028 show a steady year-on-year growth, with values increasing gradually from 18.88 USD in 2024 to 19.94 USD in 2028. The anticipated compound annual growth rate (CAGR) over this five-year period reflects a consistent positive trend in the market.
Future trends to watch for:
- Potential impacts of technological advances on lubricant formulation and use.
- Regulatory changes focused on environmental impact and sustainability.
- Market shifts due to fluctuations in global petroleum prices and supply chains.
