The import of lubricating oil additives with petroleum or bitumen oil to China was valued at 1.2004 billion USD in 2023. Forecasted increases show a steady growth: 1.2004 billion USD in 2024, 1.2362 billion USD in 2025, 1.2713 billion USD in 2026, 1.3057 billion USD in 2027, and reaching 1.3394 billion USD in 2028. This indicates a consistent positive growth trend, approximately a 3.3% average annual increase over the five-year period.
Future trends to watch:
- Potential impact of China's green energy policies on import demand.
- Technological advancements in lubricant additives improving efficiency.
- Fluctuations in petroleum prices affecting import costs.
- Global supply chain dynamics post-pandemic impacting import routines.
