The import of non-petroleum-based lubricating oil to China has been forecasted to rise steadily from 2024 to 2028. In 2023, the value stood at approximately $0.985 billion USD. The year-on-year variation indicates consistent growth, with increases of around 3.18% in 2024, 3.18% in 2025, 3.03% in 2026, 2.88% in 2027, and 2.74% in 2028. The compounded annual growth rate (CAGR) from 2024 to 2028 is projected to average around 3% per year.
Future trends to watch for include potential shifts in global trade policies, technological advancements in lubricant production, and China's evolving focus on sustainable and eco-friendly products. These factors could significantly impact the supply chain and demand dynamics, influencing both volume and value of non-petroleum-based lubricating oil imports.
