The import of non-petroleum-based lubricating oil to China is forecasted to increase steadily from 157.72 million kilograms in 2024 to 174.86 million kilograms in 2028. This growth indicates a consistent year-on-year increase, reflecting China's expanding industrial needs and shift toward sustainable practices. Compared to the value in 2023, these forecasts depict a gradual upward trend.
Key trends to watch in the future include:
- China's commitment to reducing carbon emissions, boosting demand for eco-friendly lubricants.
- Technological advancements enhancing the performance and application range of non-petroleum-based oils.
- Potential regulatory changes promoting biolubricants and sustainable products.