The lubricants refinery output in Turkey is forecasted to decline from 125.13 thousand tonnes of oil equivalent in 2024 to 85.98 thousand tonnes by 2028. Looking back, the output stood at 135 thousand tonnes in 2023. The year-on-year variation demonstrates a decrease of 7.88% from 2024 to 2025, 8.51% from 2025 to 2026, 9.27% from 2026 to 2027, and 10.13% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the ending five-year period is -9.45%, indicating a significant downward trend.
Future trends to watch for include advancements in lubricant technology, alternative energy sources impacting demand, and geopolitical factors influencing refinery operations. Monitoring how these factors evolve will be crucial in understanding future market dynamics.
