The market for lubricants used in textile and leather industries in Morocco, excluding petroleum-based oils, has seen a consistent decline over the past decade, reaching a value of 5.9701 million USD in 2023. Year-on-year changes highlight volatility, particularly in 2020 with a significant drop of 22.39% and a subsequent slight recovery in 2021. Over the last five years, the compound annual growth rate (CAGR) stands at -6.73%, indicating a persistent downward trend.
Looking ahead, it is crucial to monitor factors such as advancements in alternative, sustainable lubricant technologies, regulatory changes favoring eco-friendly products, and shifts in the textile and leather industries that might impact lubricant demand. Innovation could mitigate declining trends and potentially stabilize this sector's market size.
