The petroleum-based lubricant market in Argentina has experienced notable fluctuations over the past decade. The market value started strong in 2012, with a peak in 2015 at approximately 416.2 million USD before a series of declines led to a low of 293.19 million USD in 2020. The more recent years indicated a modest recovery with 2022 closing at 353.92 million USD, reflecting a return to growth, albeit at a slower pace. Overall, the Compound Annual Growth Rate (CAGR) over the last five years stands at -0.59%, revealing a slight decline on average annually during this period. As we are in 2024, the market is expected to have continued its restructuring towards more stability.
Future trends to watch for include:
- Increased adoption of environmentally friendly alternatives and synthetic lubricants as sustainability and regulatory pressures intensify.
- Technological advancements in automotive and industrial machinery that may drive the demand for higher performance lubricants.
- Economic recovery and industrial growth in Argentina could foster demand stability or growth in the petroleum-based lubricant market.
| # | 43 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 8,304,600,000 | 2023 | -5.15% | -5.77% | View data |
| 2 | 2 Japan | 3,222,400,000 | 2023 | -0.53% | -0.65% | View data |
| 3 | 3 Germany | 2,383,500,000 | 2023 | +0.11% | -1.38% | View data |
| 4 | 4 France | 1,868,800,000 | 2023 | +0.13% | -0.45% | View data |
| 5 | 5 India | 1,796,200,000 | 2023 | +2.95% | +1.81% | View data |
| 15 | 15 Pakistan | 404,000,000 | 2023 | +2.47% | +2.54% | View data |
| 16 | 16 Australia | 359,760,000 | 2023 | -2.8% | -3.64% | View data |
| 17 | 17 Argentina | 354,250,000 | 2023 | +0.093% | -0.12% | |
| 18 | 18 Netherlands | 351,160,000 | 2023 | +3.3% | +0.88% | View data |
| 19 | 19 Vietnam | 290,400,000 | 2023 | +3.24% | +2.31% | View data |
