From 2012 to 2022, the value per capita of the petroleum-based lubricant market in China has shown a general upward trend. Starting at 4.76 USD per capita in 2012, it peaked at 8.03 USD per capita in 2018 before a slight decline in the following years. Specifically, there was a notable dip in 2019 to 7.26 USD per capita, followed by another decrease in 2020 to 6.9 USD per capita. However, a minor recovery occurred in 2022 with the value at 7.37 USD per capita.
The year-on-year variation over the last two years showed a minor increase, moving from 6.89 USD in 2021 to 7.37 USD in 2022, indicating a growth of approximately 6.97%.
Considering the CAGR from 2018 to 2022, the market experienced an average annual growth rate of 2.5%. Given the data points, trends generally reveal an escalation in value with temporary dips.
Looking ahead, future trends to watch include potential influences of technological advancements in lubricants and shifts in environmental regulations which may affect demand and market value. Continued economic development and urbanization in China may further bolster market growth.
| # | 43 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 40.43 | 2023 | View data | ||
| 2 | 2 Iceland | 40.38 | 2023 | View data | ||
| 3 | 3 Sweden | 39.21 | 2023 | View data | ||
| 4 | 4 Norway | 35.62 | 2023 | View data | ||
| 5 | 5 Canada | 32 | 2023 | View data | ||
| 25 | 25 Argentina | 7.72 | 2023 | View data | ||
| 26 | 26 Thailand | 7.16 | 2023 | View data | ||
| 27 | 27 China | 7.12 | 2023 | |||
| 28 | 28 Kazakhstan | 6.84 | 2023 | View data | ||
| 29 | 29 Malta | 5.46 | 2023 | View data | ||
