The petroleum-based lubricant market in El Salvador stood at $30.814 million in 2023, reflecting a steady upward trend over the years. From 2013 to 2023, the market value consistently increased, except for minor fluctuations in 2017 and 2020. The year-on-year growth reached its peak in 2016 at 11.61%, followed by a slight decline in subsequent years, showing a more stabilized growth rate. Over the last five years, the market experienced an average annual growth rate (CAGR) of 3.33%, indicating a steady, albeit moderate, expansion.
Future trends to watch for:
- Technological advancements in lubricant composition and efficiency.
- Shifts towards synthetic and bio-based lubricants as environmentally friendly alternatives.
- Policy changes affecting petroleum-based products.
| # | 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 |
| 34 | 34 Guatemala | 73,614,000 | 2023 | +5.9% | +0.87% | View data |
| 35 | 35 Croatia | 53,431,000 | 2023 | +1.56% | +3.39% | View data |
| 36 | 36 El Salvador | 30,814,000 | 2023 | +3.79% | +3.33% | |
| 37 | 37 Sri Lanka | 25,265,000 | 2023 | -11.31% | -9.39% | View data |
| 38 | 38 Bolivia | 25,050,000 | 2023 | -4.19% | -3.97% | View data |
