As of 2023, India imported 59.7 million kilograms of lubricating oil additives with petroleum or bitumen oil. Forecasts indicate a steady rise in imports, reaching 62.02 million kilograms in 2024, with an annual growth rate averaging around 6.5% through 2028. Year-on-year increases project imports of 64.432 and 66.796 million kilograms for 2025 and 2026, respectively, highlighting a 3.9% and 3.7% growth. The 2027 and 2028 forecasts predict continued expansion at 3.5% and 3.3%.
Future trends to watch for include:
- Technological advancements in lubricant formulations.
- Shifts in the Indian manufacturing and automotive sectors impacting demand.
- Potential regulatory changes affecting import dynamics.
