The market size value per capita for lubricants used in textile and leather, containing less than 70% petroleum oil, in India steadily increased from 2013, reaching $0.092 in 2023. This represents a notable growth over the past decade.
From 2022 to 2023, there was an increment of approximately 3.37%, illustrating a notable year-on-year trend. The compounded annual growth rate over the last five years has been around 2.64%, revealing steady development in per capita market value.
Looking ahead, it will be important to monitor several factors: potential shifts in sustainable manufacturing practices, the impact of regulatory changes around petroleum usage, and evolving technologies driving efficiency and demand. These elements could significantly influence market dynamics and growth in the following years.
