The lubricant market size per capita in Israel for non-petroleum oils has shown a notable upward trajectory from 2013 to 2023, with occasional fluctuations. As of 2023, the value stands at 9.14 USD. Over the last two years, the market increased by 9.57% from 2021 to 2023. The compound annual growth rate (CAGR) for the past five years is approximately 1.81%, indicating stable growth amidst occasional dips.
Future trends to watch include:
- Increased demand for eco-friendly lubricants due to environmental regulations.
- Technological advancements improving efficiency and performance of synthetic lubricants.
- Potential market expansion through diversification into new industries.