The lubricant market in Argentina, excluding those for textile and leather use, with less than 70% petroleum oil content, has shown fluctuations between 2013 and 2023. In 2023, the per capita value was $2.49, marking a slight increase from the previous year. Over the past two years, the year-on-year growth was modest, reaching 2.98% on average. Over the last five years, the compound annual growth rate (CAGR) was stable, generally showing a rebound from a dip in 2020. The market has gradually recovered, indicating resilience in consumer demand.
Looking forward, potential trends include a shift towards environmentally friendly lubricants, influenced by global sustainability efforts, and further innovation to enhance efficiency, impacting future market dynamics. Monitoring economic conditions and policy changes in Argentina will be crucial to anticipate market adjustments.
