In 2023, the import volume of non-petroleum-based lubricants to India stood at 45 million kilograms. The forecast data shows a steady increase in imports from 2024 to 2028, with annual year-on-year growth rates of approximately 4.3% from 2024 to 2025, 4.0% from 2025 to 2026, 3.8% from 2026 to 2027, and 3.6% from 2027 to 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is estimated at around 4.0%.
Future trends to watch for include:
- Technological advancements leading to increased efficiency and performance of non-petroleum-based lubricants.
- Increasing environmental regulations pushing for more sustainable lubrication solutions.
- Growth in industrial activities demanding higher volumes of imported lubricants.
