The forecast for Japan's import of lubricating oil additives without petroleum or bitumen oils shows a gradual decline from 2024 to 2028. The import value decreases slightly each year, starting from $20.952 million in 2024 to $20.761 million in 2028. Compared to actual figures from 2023, where imports stood at $21.000 million, the data indicates a consistent downward trend.
Year-on-year variation reveals a minor decrease of approximately 0.23%. The compound annual growth rate (CAGR) over the forecasted five years is around -0.18%, indicating a slight but steady reduction in import value annually.
Future trends to watch for include potential shifts in global oil markets, technological advancements in lubricant alternatives, or changes in Japan's industrial and automotive sectors, which could influence demand for these additives. Monitoring trade agreements and environmental regulations may also provide insights into future import dynamics.
