The Petroleum Based Lubricant Market in South Africa exhibited fluctuating trends between 2012 and 2022. In 2023, the market stood at a relatively stable point after recovery from significant drops. Over the last two years, the market showed a positive trend with a 14.77% increase in 2021 and a 5.54% increase in 2022. However, the average annual growth rate over the last five years stands at 0.81%, indicating moderate market growth with slight ups and downs. Notably, there was a sharp decline of 16.44% in 2020 due to the pandemic's impact, followed by a strong recovery in 2021. Looking ahead, key trends to watch include advancements in lubrication technology, shifts towards more sustainable and eco-friendly products, and market responses to global economic changes.
| # | 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 |
| 18 | 18 Netherlands | 351,160,000 | 2023 | +3.3% | +0.88% | View data |
| 19 | 19 Vietnam | 290,400,000 | 2023 | +3.24% | +2.31% | View data |
| 20 | 20 South Africa | 279,170,000 | 2023 | +0.26% | -0.15% | |
| 21 | 21 Colombia | 264,420,000 | 2023 | +1.62% | +1.87% | View data |
| 22 | 22 Malaysia | 261,410,000 | 2023 | +1.3% | +1.76% | View data |
