The import of petroleum-based lubricants for treating textiles, leather, and furskins in the US is projected to decline from $2.5879 million in 2024 to $2.1205 million by 2028. Notably, the series stood at $2.6915 million in 2023, indicating a consistent downward trend.
Year-on-year variations show a steady decrease, reflecting a contraction in demand or possibly a shift to alternative materials. The five-year compound annual growth rate (CAGR) forecasts an average annual decrease, emphasizing a consolidating trend in this segment.
Future trends to watch include the impact of technological advancements in textile and leather processing and the substitution of petroleum-based products with more sustainable alternatives, influencing import dynamics.
