The market size for lubricants used in textile and leather industries in Canada, made of less than 70% petroleum oil, is projected to achieve steady growth from 2024 to 2028. Starting from a value of $9.9324 million in 2024, the market is anticipated to reach $9.9586 million by 2028. This continuous growth results in a projected compound annual growth rate (CAGR) of approximately 0.07% over five years. In 2023, the market stood slightly lower than these forecasted figures, following a trend of gradual increase.

Future trends to watch include:

The push for sustainable and greener products, influencing both consumer preferences and regulatory policies.
Technological advancements in lubricant formulations enhancing the performance and longevity of textiles and leather.
Potential impacts of economic fluctuations and exchange rates on market dynamics.