The lubricant market for textile and leather use (without petroleum oil) in Canada was valued at $0.43 per capita in 2023. Over the past two years, the market saw variations with a 19.4% increase in 2021 and a stabilization during 2022 and 2023. Analyzed over five years, the compound annual growth rate (CAGR) was approximately 0.87%, indicating gradual recovery and stabilization following the significant dip in 2020.
Future trends to watch for include the impact of sustainability efforts on non-petroleum lubricants' demand, potential technological innovations, and changing textile industry needs impacting consumption patterns by key industry stakeholders.
