The Lubricant for Textile and Leather Use market in India, devoid of petroleum oil, has shown growth from 2013 to 2023, reaching $0.34 per capita. Observing year-on-year changes, the market grew by roughly 3% from 2022 to 2023, after a 10% rise from 2021 to 2022. Over the last five years, the compound annual growth rate averaged around 3.6%. The overall trend signifies consistent growth barring a dip in 2020.
Future trends to watch for include shifts towards sustainable and environmentally friendly products, rising demand in manufacturing sectors, and innovations in lubricant formulations to boost efficiency and performance.
