The Namibian market for non-petroleum lubricant used in textiles and leather saw a steady growth from 2013 to 2019, with the value per capita reaching $0.46 in 2019. However, a decrease occurred in 2020, dropping to $0.39. By 2023, the value increased again to $0.50, demonstrating a recovery. Year-on-year, the market grew by 8.89% from 2021 to 2022, and by 2.04% from 2022 to 2023. Over the last five years, the market experienced a Compound Annual Growth Rate (CAGR) of approximately 0.93%.
Future trends to watch for include potential market stabilization or growth in Namibia due to increasing industrial activities in textiles and leather sectors, alongside a possible shift towards more sustainable and innovative lubricant solutions.
