The market for lubricating preparations not containing petroleum oil or bituminous mineral oils in Croatia has seen steady growth in recent years, reaching a value of 7.3704 million euros in 2023. Over the last decade, there was a notable increase, especially between 2016 and 2018, with double-digit year-on-year growth percentages. However, growth rates have decelerated in subsequent years, with incremental year-on-year increases between 1.85% to 1.95% in the last two years. Over the five-year period ending in 2023, the compound annual growth rate (CAGR) stood at 3.92%, indicating moderate expansion.
In terms of future trends, industry players should watch for:
- Innovations in eco-friendly lubricants as regulatory environments tighten globally.
- Expansion opportunities within emerging sectors that require specialized lubricants.
- Potential impacts of geopolitical and economic shifts affecting raw material availability and costs.
- Increasing demand from industrial applications as economic activities continue to rebound.
| # | 6 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 96,678,000 | 2023 | +1.71% | +1.5% | View data |
| 2 | 2 Czech Republic | 63,712,000 | 2023 | +5.2% | +1.57% | View data |
| 3 | 3 Hungary | 27,931,000 | 2023 | +2.28% | +2.54% | View data |
| 4 | 4 Bulgaria | 8,461,600 | 2023 | +3.97% | +4.7% | View data |
| 5 | 5 Croatia | 7,370,400 | 2023 | +1.85% | +3.92% | |
| 6 | 6 Greece | 5,795,800 | 2023 | +2.45% | +0.33% | View data |
