The French lubricant market, excluding textiles and leather use, composed of less than 70% petroleum oil, stood at around $1.075 billion in 2023. Forecasts from 2024 to 2028 indicate a modest but steady growth. The market is projected to rise from $1.079 billion in 2024 to $1.106 billion by 2028, reflecting a compounded annual growth rate (CAGR) of approximately 0.6% over the five-year period. Year-on-year growth maintains a relatively constant increment of about 0.6% annually. This indicates a stable demand for these lubricants within the market.
Future trends to observe include:
- Shift towards bio-lubricants due to environmental regulations.
- Technological advancements in lubricant formulations.
- Increasing demand in industries outside traditional automotive and machinery sectors.
- Potential market volatility due to raw material price fluctuations.