The lubricant for textile and leather use without petroleum oil in Morocco has shown a steady decline in value per capita from $0.42 in 2013 to $0.15 in 2023. This represents a significant decline, with notable year-on-year reductions, particularly from 2015 to 2020. For the last two years, including 2022 to 2023, there was a moderate decrease, maintaining a value of $0.17 for three consecutive years before dropping to $0.15. The Compound Annual Growth Rate (CAGR) over the past five years evidences a diminishing market, underscoring a persistent downtrend.
Future trends to watch for:
- Innovation in non-petroleum-based lubricants could potentially stabilize or rejuvenate market interest.
- Increasing environmental regulations may push demand for sustainable alternatives.
- Shifts in the textile and leather industries might influence lubricant demand.
