Between 2013 and 2023, the market size value per capita of lubricants for textile and leather use (without petroleum oil) in Chile grew steadily from $0.20 to $0.27. Notably, after a dip in 2020 to $0.21, the value rebounded to reach its current value in 2023. Year-on-year growth from 2022 to 2023 was flat at 0%, while the compound annual growth rate over the last five years was approximately 2.7%, indicating a consistent upward trend in the market.
Future trends to watch for:
- Innovation in synthetic and bio-lubricants driven by environmental concerns.
- Expansion of Chilean textile and leather industries boosting lubricant demand.
- Impact of global supply chain disruptions on raw material availability.
