The lubricants opening stock in Spain has experienced significant fluctuations from 2013 to 2023. In 2023, the value stood at 41.0 thousand metric tons. Notably, there was a sharp drop of 65.79% in 2013, followed by a notable increase of 350% in 2015 and continuous variability through the subsequent years. Specifically, the last two years displayed a year-on-year variability of 14.71% in 2022 and 5.13% in 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) is -6.7%, indicating a general decline despite the occasional annual increases.
Regarding future trends, from 2024 onwards, the forecast suggests a stable outlook with the lubricants opening stock expected to remain constant at 41.0 thousand metric tons through 2028. The forecasted 5-year CAGR and growth rate are both 0%, indicating no expected changes in stock levels.
Watch for the following future trends:
- Stability in stock levels from 2024-2028
- Potential market and economic influences that could disrupt the forecasted steadiness
- Technological advancements that might optimize or reduce lubricant stock requirements
