The lubricant market in Canada for non-textile and non-leather use, excluding petroleum oil, showed fluctuation from 2013 to 2023. In 2023, the market size per capita stood at $13.19 USD. Year-on-year analysis revealed a growth of 0.76% from 2022 to 2023, following a 5.18% increase from 2021 to 2022. Over the last five years, the compound annual growth rate (CAGR) was approximately 1.63%, indicating a modest but steady expansion.
Future trends to watch include the impact of sustainable and eco-friendly products, technological advancements in formulations, and potential regulatory changes regarding environmental standards. Additionally, shifts in consumer preferences toward synthetic and bio-based lubricants may influence market dynamics.
