In 2023, Malaysia's market for textile and leather lubricants made with less than 70% petroleum oil was valued at $24.212 million. After a significant dip of 16.35% in 2020, the market has shown a positive recovery with a 15.32% increase in 2021, a 6.04% rise in 2022, and modest growth of 0.72% in 2023. The 5-year compound annual growth rate (CAGR) is slightly negative at -0.17%, indicating a relatively stable market since the mid-2010s despite some fluctuations.
Future trends to watch for include:
- Technological advancements in lubricant formulations tailored for textile and leather applications.
- Increasing demand for sustainable and environmentally friendly lubricant solutions.
- Potential fluctuations due to economic conditions affecting the automotive and textile industries globally.
- Regulatory changes impacting the use of petroleum products.
How does Malaysia rank in Lubricant for Textile and Leather Use (Made of < 70% of Petroleum Oil) Market Size Value?
| # | 14 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 1,005,200,000 | 2023 | +1.03% | +0.95% | View data |
| 2 | 2 India | 125,580,000 | 2023 | +3.54% | +3.29% | View data |
| 3 | 3 Brazil | 119,660,000 | 2023 | +0.074% | +0.56% | View data |
| 4 | 4 Thailand | 27,755,000 | 2023 | +0.24% | -0.34% | View data |
| 5 | 5 Germany | 27,716,000 | 2023 | -0.58% | -0.47% | View data |
| 6 | 6 Malaysia | 24,212,000 | 2023 | +0.72% | -0.17% | |
| 7 | 7 Russia | 18,861,000 | 2023 | -1.46% | -0.57% | View data |
| 8 | 8 France | 15,884,000 | 2023 | -5% | -4.55% | View data |
