The Australian petroleum-based lubricant market has undergone significant fluctuations from 2012 to 2022. The market initially saw growth in 2014; however, following that period, a steep decline occurred, particularly in 2015 and 2016. Gradual recovery was observed from 2017 to 2018, followed by another dip in 2019. The market remained relatively stable but slightly declining from 2020 to 2021. By 2022, some recovery was noted with a year-on-year increase of 3.81%, although the overall trend over the past five years posted a marginal negative CAGR of -0.9%. The petroleum-based lubricant market value stood at around 383.88 million US dollars in 2022.
When examining future trends, it is crucial to monitor:
- Technological advancements in lubrication technology.
- The adoption rate of alternative, more sustainable lubricants.
- Regulatory changes and environmental policies.
- Market demand from core sectors such as automotive and industrial applications.
| # | 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 |
| 14 | 14 Sweden | 407,340,000 | 2023 | +0.71% | +0.5% | View data |
| 15 | 15 Pakistan | 404,000,000 | 2023 | +2.47% | +2.54% | View data |
| 16 | 16 Australia | 359,760,000 | 2023 | -2.8% | -3.64% | |
| 17 | 17 Argentina | 354,250,000 | 2023 | +0.093% | -0.12% | View data |
| 18 | 18 Netherlands | 351,160,000 | 2023 | +3.3% | +0.88% | View data |
