In the market for lubricants in Oman, excluding textile and leather uses, and without petroleum oil, the per capita market value stood at $2.57 in 2023. Over the past decade, there has been a noticeable decline, from $4.88 in 2013. A significant drop was seen from 2013 to 2015, and a more gradual decline from 2016 onwards. Comparing 2022 to 2023, there was a slight decrease of approximately 3.7%. The 5-year CAGR stands at a modest decline, reflecting a steady but slow market contraction.
Future trends to watch for include potential shifts towards more environmentally friendly and synthetic lubricant options. These alternatives may prompt a market recovery, driven by regulatory changes and increasing consumer awareness regarding sustainability.
