From 2013 to 2023, the Tunisian market for lubricants (excluding textile and leather use and made of less than 70% petroleum oil) has experienced notable fluctuations. The market size reached USD 28.397 million in 2023. Despite a setback in 2020 due to a 14.34% decline, the market rebounded with an average compound annual growth rate (CAGR) of 3.06% over the last five years, signaling recovery and steady growth. The year-on-year growth for 2023 was 2.76%, indicating a positive yet modest rise compared to the previous year.
Future trends to watch for:
- Innovative alternatives and sustainable lubricant solutions contributing to market expansion.
- Development of eco-friendly policies and shifts towards alternative fuels affecting demand dynamics.
- Potential influences of economic and geopolitical factors on the market's growth trajectory.