The Petroleum Based Lubricant Market Size Value Per Capita in Belgium has shown notable variation over the years from 2012 to 2023. There have been periods of both growth and decline. Significant drops were observed in 2017 and 2020, where the value fell to 18.06 and 14.89 percent USD per capita respectively. However, recent data indicates a recovery, with values increasing to 16.86 in 2021 and 17.57 in 2022.
Year-on-year variation percentages show that the market experienced a decline of 10.91% from 2019 to 2020 followed by a recovery of 13.26% in 2021. Over the last five years, the market has experienced a Compound Annual Growth Rate (CAGR) of -3.8%, indicating an overall downward trend.
Future trends to watch for include advancements in alternative lubrication technologies and increasing environmental regulations which may impact the use and market size for petroleum-based lubricants. Sustainable and bio-based lubricants could gain traction, potentially disrupting the current market dynamics.
| # | 43 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 40.43 | 2023 | View data | ||
| 2 | 2 Iceland | 40.38 | 2023 | View data | ||
| 3 | 3 Sweden | 39.21 | 2023 | View data | ||
| 4 | 4 Norway | 35.62 | 2023 | View data | ||
| 5 | 5 Canada | 32 | 2023 | View data | ||
| 13 | 13 Switzerland | 18.78 | 2023 | View data | ||
| 14 | 14 Italy | 17.71 | 2023 | View data | ||
| 15 | 15 Belgium | 17.39 | 2023 | |||
| 16 | 16 Israel | 16.42 | 2023 | View data | ||
| 17 | 17 United Kingdom | 15.53 | 2023 | View data | ||
