From 2013 to 2023, Zambia saw fluctuations in the market size value per capita for lubricants made of less than 70% petroleum oil, with the value reaching $0.48 in 2023. Over this period, the market experienced an average annual growth rate of approximately 1.28% from 2019 to 2023, driven by various economic factors. Notably, there was a significant downturn in 2020, but the market rebounded to its peak in 2022 and stabilized in 2023.
Looking ahead, future trends to watch for include the impact of economic conditions on lubricant demand, potential shifts towards environmentally friendly or synthetic alternatives, and how technological advancements may further influence market dynamics in Zambia.
