The import of petroleum-based lubricating oil to Japan is forecasted to increase steadily from 12.043 million kilograms in 2024 to 13.041 million kilograms in 2028. This indicates a consistent year-on-year growth of approximately 2.14% from 2024 to 2025, 2.05% from 2025 to 2026, 1.97% from 2026 to 2027, and 1.89% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period is about 2.01%. In 2023, the actual import stood at 11.8 million kilograms.
Future trends to watch for include potential fluctuations in global oil prices, changes in environmental regulations, and advancements in alternative lubrication technologies which might impact the demand and import volumes of petroleum-based lubricating oil in Japan.
