The Chinese market for Lubricant for Textile and Leather Use (made of less than 70% petroleum oil) reached a value of $1005.2 million in 2023. Over the past two years, the market experienced a significant rebound from the 2020 low, with growth rates of 15.72% in 2021 and 6.39% in 2022. The year-on-year increase in 2023 was modest at 1.03%, indicating a stabilized market. Over the past five years, a CAGR of 0.95% reflects steady, although moderate, growth.
Future trends to watch include:
- The impact of sustainability trends on lubricant formulations.
- Technological advancements in manufacturing processes.
- Regulatory changes affecting product composition.
- Potential shifts in global supply chains affecting input costs.
- Growing demand for high-performance and eco-friendly lubricants.
How does China rank in Lubricant for Textile and Leather Use (Made of < 70% of Petroleum Oil) Market Size Value?
| # | 14 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 1,005,200,000 | 2023 | +1.03% | +0.95% | |
| 2 | 2 India | 125,580,000 | 2023 | +3.54% | +3.29% | View data |
| 3 | 3 Brazil | 119,660,000 | 2023 | +0.074% | +0.56% | View data |
| 4 | 4 Thailand | 27,755,000 | 2023 | +0.24% | -0.34% | View data |
| 5 | 5 Germany | 27,716,000 | 2023 | -0.58% | -0.47% | View data |
