From 2013 to 2023, the per capita market size value of lubricants for textile and leather use (excluding petroleum oil) in the UAE saw fluctuations, with a peak in 2013 at $0.51 and a low in 2020 at $0.33. The value in 2023 was stable compared to 2022 at $0.39. Observing the year-on-year changes, there was a 0% variation in 2023 from 2022, and a 2.63% increase in 2022 from 2021. The compound annual growth rate (CAGR) over the last five years was modest, indicating a slight recovery post-2020.
Future trends to watch include the growing demand for sustainable and non-petroleum based products, which could drive market growth. Additionally, technological advancements in textile and leather processing could influence the lubricant market positively. Environmental regulations and innovations in eco-friendly products also provide avenues for future expansion in the UAE's lubricant market.
