The Brazilian market for lubricants (excluding textile and leather use) made of less than 70% petroleum oil experienced fluctuations from 2013 to 2023. In 2023, the value stood at 0.71 USD per capita. Observing year-on-year trends, 2022 to 2023 saw a decline of around 2.74%. Over the five-year period from 2018 to 2023, the Compound Annual Growth Rate (CAGR) was approximately -2.86%, indicating a slight downward trend overall.
Future trends to watch for in Brazil’s lubricant market include:
- Increased adoption of synthetic and bio-based lubricants due to environmental regulations and sustainability trends.
- Technological advancements leading to more efficient lubricants may impact market dynamics.
- Potential economic shifts affecting industrial and automotive demand.
