In 2023, the import of petroleum-based lubricating oil to China stood at an estimated 151 million kilograms. The forecast from 2024 to 2028 shows a consistent rise, with 2024 imports at 157.09 million kilograms, increasing annually to reach 180.65 million kilograms by 2028. This growth reflects a year-on-year increase, with percentage variations of approximately 3.86% from 2024 to 2025, 3.65% from 2025 to 2026, 3.45% from 2026 to 2027, and 3.27% from 2027 to 2028. The compound annual growth rate (CAGR) over this five-year period is projected to be approximately 4.54%.
Future trends to watch include potential shifts in industrial demands, advancements in alternative lubrication technologies, and changes in trade policies that may affect import dynamics. Monitoring these factors will provide insights into how these forecasts might adjust in response to evolving market conditions.
