The import of petroleum-based lubricating oil to Italy in 2023 stood at 38.163 million kilograms. Analyzing the trend from 2013 to 2023 reveals significant fluctuations, with certain years like 2020 showing a steep decline of -14.74% year-on-year, likely influenced by the pandemic. However, subsequent recovery is evident with a notable 17.43% rise in 2021 and consistent growth thereafter, achieving a 2.37% year-on-year increase by 2023. The calculated CAGR over the last five years till 2023 is 2.46%, indicating steady growth.
Looking ahead, the forecast from 2024 to 2028 suggests a steady climb, with imports reaching 42.676 million kilograms by 2028. The anticipated five-year CAGR is 1.82%, slightly lower than previous years but still indicating positive growth. The projected five-year growth rate is 9.41%, suggesting continued demand.
Future trends to watch for include potential shifts in global oil prices, regulatory developments fostering alternative energy sources, and Italy's economic growth impacting industrial demand for lubricants. Monitoring these factors will be crucial for accurate forecasting and strategic planning.
