Between 2013 and 2022, Italy's lubricant refinery output has seen various fluctuations. Notable increases occurred in 2014 (+3.49%), 2015 (+7.81%), 2016 (+4.35%), and 2017 (+13.61%). However, significant decreases were recorded in 2018 (-13.35%) and 2019 (-43.97%). The period of 2020 to 2022 showed slight recovery with 2020 (+34.28%) and 2022 (+16.88%), but stabilizing around 49-50 thousand Terajoules in 2023.
For 2023, the actual output is 49.49 thousand Terajoules, slightly declining by -0.38% year-on-year. The CAGR over the last five years results in a -2.63% decline, which showcases a moderately decreasing trend in output.
Looking forward into the forecasted data from 2024 to 2028, the output is predicted to gradually decrease at a CAGR of -0.29%, suggesting a stable yet slight downward trend in lubricant refinery output in Italy.
Future trends to watch for include technological advancements in refining processes, shifts in demand for lubricants driven by the electric vehicle market, and regulatory changes affecting production and consumption patterns.
