The market size value per capita for lubricants used in textile and leather industries in Canada, made with less than 70% petroleum oil, exhibited fluctuations from 2013 to 2023. In 2023, the value stood at $0.26 after having peaked at $0.31 in 2014. The year-on-year growth rate from 2022 to 2023 was negative, showing a minor decline. The compound annual growth rate from 2018 to 2023 averaged marginally negative, highlighting a slight contraction over five years.
In the future, attention should be paid to sustainability trends, as eco-friendly and biodegradable alternatives to petroleum-based lubricants could potentially influence market dynamics. Additionally, technological advancements in textile and leather production could alter lubricant demand patterns.
