The Lubricant for Textile and Leather Use market in Sri Lanka, without petroleum oil, showed a declining trend from 2013 to 2020. The highest value was in 2013 at $2.4591 million, decreasing steadily each year, with a sharp drop in 2020. A moderate recovery ensued, peaking again in 2022 at $2.052 million, before declining slightly to $2.0044 million in 2023. The last five years experienced a compound annual growth rate of -2.31%, illustrating a persistent decrement. Year-on-year variations notably reveal market volatility, with a notable drop in 2020 and partial recovery thereafter.

Future trends to watch for:

Potential market stabilization following the decline of 2023.
Impact of technological advancements in textile manufacturing on lubricant demand.
Environmental regulations pushing for more sustainable, non-petroleum based lubricants.
Economic factors influencing the textile and leather industries in Sri Lanka.