The Australian lubricant market size value per capita, under 70% petroleum content, decreased from $7.43 in 2013 to $4.16 in 2023. Notable fluctuations occurred, with a significant drop from 2014 to 2015 and a steady decline observed until 2023. The year-on-year change for 2022-2023 was approximately -5.67%, marking a slowdown compared to the previous annual variations. Over five years, the compound annual growth rate (CAGR) was around -5.77%, indicating an overall downward trend.
Future trends to watch include:
- Greater focus on environmentally friendly lubricants.
- Potential recovery influenced by industrial growth.
- Adoption of synthetic alternatives potentially affecting market dynamics.
