The market for lubricating preparations not containing petroleum oil or bituminous mineral oils in Greece experienced a growth trend from 2013 to 2023, with moderate annual variations. In 2023, the market size stood at 5.7958 million Euros, marking a modest 2.45% increase from 2022. Over the last five years, the compound annual growth rate was 0.33%, highlighting stabilizing market conditions with a significant dip in 2020 due to a 10.39% decline attributed to unforeseen economic challenges. Recovery efforts have been evident, with fluctuations averaging towards positive growth.
Future trends to watch for include:
- The impact of technological advancements on non-petroleum-based lubricants driving innovation.
- Potential shifts in regulatory environments fostering sustainable practices and demand for eco-friendly alternatives.
- Global economic conditions influencing both local production efficiencies and import activities.
- The rise of electric vehicles possibly affecting traditional lubricants demand and promoting novel product development.
| # | 6 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 96,678,000 | 2023 | +1.71% | +1.5% | View data |
| 2 | 2 Czech Republic | 63,712,000 | 2023 | +5.2% | +1.57% | View data |
| 3 | 3 Hungary | 27,931,000 | 2023 | +2.28% | +2.54% | View data |
| 4 | 4 Bulgaria | 8,461,600 | 2023 | +3.97% | +4.7% | View data |
| 5 | 5 Croatia | 7,370,400 | 2023 | +1.85% | +3.92% | View data |
| 6 | 6 Greece | 5,795,800 | 2023 | +2.45% | +0.33% |
