The petroleum-based lubricant market in Thailand experienced a steady increase in value per capita from 2012 to 2018, peaking at 7.2 percent US Dollars per capita in 2018. A subsequent decline was observed from 2019 to 2021, with values falling to 6.19 percent in 2021. However, the market showed signs of recovery in 2022, hitting 6.57 percent once more. Year-on-year variation for the years 2022 and 2023 suggests moderate growth, while the Compound Annual Growth Rate (CAGR) over the past five years indicates a stabilization trend.
Future trends to watch for include potential shifts in consumer preferences towards synthetic lubricants, regulatory changes impacting petroleum-based products, and economic factors that may influence market demand. Keeping an eye on advancements in automotive and industrial technologies will also be critical, as these can significantly affect lubricant usage.
| # | 43 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 40.43 | 2023 | View data | ||
| 2 | 2 Iceland | 40.38 | 2023 | View data | ||
| 3 | 3 Sweden | 39.21 | 2023 | View data | ||
| 4 | 4 Norway | 35.62 | 2023 | View data | ||
| 5 | 5 Canada | 32 | 2023 | View data | ||
| 24 | 24 Malaysia | 8.03 | 2023 | View data | ||
| 25 | 25 Argentina | 7.72 | 2023 | View data | ||
| 26 | 26 Thailand | 7.16 | 2023 | |||
| 27 | 27 China | 7.12 | 2023 | View data | ||
| 28 | 28 Kazakhstan | 6.84 | 2023 | View data | ||
