The Iranian market for non-petroleum lubricants used in the textile and leather industries showed a general declining trend from 2013 to 2023, ending at $24.933 million. Despite initial fluctuations, the market experienced a significant drop in 2020 by 17.82%, recovering somewhat in 2021 and 2022. The Compound Annual Growth Rate (CAGR) over the past five years was -0.98%, indicating a general decline.
Future trends to watch for include:
- Adoption of sustainable and eco-friendly alternatives.
- Technological advancements in lubricant formulations.
- Potential economic and trade policy impacts on the market.
