The petroleum-based lubricant market size value per capita in South Korea experienced fluctuations from 2012 to 2022. Notable growth was observed in 2014 and 2015, with a leveling off from 2016 to 2018. A decline occurred in 2019 and 2020, likely due to external market challenges, followed by a recovery in 2021 and 2022. The two-year variation indicates renewed growth, with an approximate increase of 5.33% from 2020 to 2022. The five-year CAGR from 2018 to 2022 is about 1.13%, suggesting moderate growth. As of 2023, the market stood at an approximate value of 13.30 Percent US Dollars Per Capita.
Future trends to watch for include the impact of global oil prices, advancements in lubricant technology, and shifts towards more sustainable and synthetic lubricant products. Market policies and regulations regarding environmental impact will also play a crucial role in shaping future market dynamics.
| # | 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 | ||
| 17 | 17 United Kingdom | 15.53 | 2023 | View data | ||
| 18 | 18 Croatia | 13.77 | 2023 | View data | ||
| 19 | 19 South Korea | 13.4 | 2023 | |||
| 20 | 20 Australia | 13.26 | 2023 | View data | ||
| 21 | 21 Spain | 12.54 | 2023 | View data | ||
