The Norwegian market for lubricants excluding petroleum oil displayed fluctuations from 2013 to 2023, with the market size standing at $84.999 million USD in 2023. The year-on-year variation indicates minor growth of 0.3% from 2022 to 2023. Over five years, the compound annual growth rate (CAGR) shows a slight decline of 0.14%. Despite significant drops in 2015 and 2020, the market has generally rebounded to nearly its 2013 levels.
Future trends to watch include increased adoption of environmentally-friendly and sustainable products, which could drive demand for non-petroleum-based lubricants. Additionally, market players might explore innovations in bio-based lubricants due to rising environmental concerns.
