The lubricants market in Finland experienced significant fluctuations over the past decade. Between 2013 and 2023, we saw substantial year-on-year variations, including a sharp dip in 2020 by -57.97%, followed by a strong rebound of 120.69% in 2021. By 2023, the value stood at 732.34 GWh, marking a 15.67% increase from the previous year. The last five years' Compound Annual Growth Rate (CAGR) settled at a moderate 1.62%. Forecasting up to 2028 predicts a steady average annual growth of 1.62% with an overall growth rate of 8.36%.
Future trends to watch for include shifts in industrial demand, advancements in lubricant technology, and regulatory impacts aiming at sustainability, which could influence consumption patterns. Furthermore, the post-pandemic economic recovery and associated industrial activities will be crucial in determining future demand.