In 2023, the import of non-petroleum based lubricant to China stood at 202.74 million kilograms. The forecast for 2024 indicates an increase to 208.87 million kilograms, followed by a consistent annual growth reaching 232.88 million kilograms by 2028. Year-on-year growth rates for the forecast period are expected to average around 2.75%. Over the five-year period from 2024 to 2028, the compounded annual growth rate (CAGR) for imports is estimated at 2.83%.
Future trends to watch for include the accelerating demand for environmentally-friendly products due to China's regulatory shifts and growing interest in sustainable practices, potentially driving further increases in the import of non-petroleum based lubricants.
