In 2023, Croatia's lubricant market size per capita (excluding textile and leather use and petroleum oils) stood at $2.93. The market showed variability from 2013 to 2023, peaking in 2017 at $3.28. The past two years have seen a slight decline with a year-on-year decrease of 1.01% from 2022 to 2023. Over the last five years, the compound annual growth rate (CAGR) is approximately 0.13%, signifying a relatively stable market after some fluctuations in previous years.
Future trends to watch for include:
- The impact of advances in synthetic lubricants and their market penetration.
- The effect of increasing regulations on petroleum-based products.
- Sustainable and eco-friendly alternatives influencing consumer preferences.
