The 2023 per capita value in the Indian market for lubricants used in the textile and leather industry, excluding petroleum-based products, stood at USD 0.34. Forecast data predicts a gradual increase in value: USD 0.35 in 2024, USD 0.36 in 2025, USD 0.38 in 2026, USD 0.39 in 2027, and USD 0.40 in 2028. This indicates a steady year-on-year growth over the forecast period. The compound annual growth rate (CAGR) over the last five years shows a consistent upward trend.
Future trends to watch include:
- Sustainable and eco-friendly product innovations.
- Increasing regulations on petroleum oil usage driving growth in alternative lubricants.
- Technological advancements in textile and leather processing impacting lubricant demand.
