Over the years, the petroleum-based lubricant market in Norway has shown fluctuating trends. Beginning in 2012, there was a steady increase in market size value until 2014, with respective year-on-year growth percentages of 1.61%, 3.17%, and 3.07%. However, 2015 saw a significant decline of 15.88%, followed by a slight decrease of 0.85% in 2016. The market rebounded in 2017 with notable growth of 14.62%, but experienced minor decreases in subsequent years. By 2020, there was a modest increase of 4.08%, but a drop again in 2021. The market size valued at 200.05 million USD in 2022, showing a recovery with a 5.83% increase year-on-year.
Key Points:
- 2012-2014: Consistent growth
- 2015: Sharp decline
- 2016-2021: Fluctuating trends
- 2022: Market recovery
Future trends to watch for include the growing shift towards renewable and eco-friendly lubricants, advancements in lubricant technology, and potential regulatory impacts on 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 |
| 23 | 23 Denmark | 247,580,000 | 2023 | +2.01% | +0.95% | View data |
| 24 | 24 Belgium | 201,850,000 | 2023 | -0.74% | -2.18% | View data |
| 25 | 25 Norway | 198,340,000 | 2023 | +0.36% | +0.19% | |
| 26 | 26 Ukraine | 182,800,000 | 2023 | +3.32% | +5.25% | View data |
| 27 | 27 Switzerland | 169,030,000 | 2023 | +1.54% | +0.028% | View data |
