The import of petroleum-based lubricants used for treating textile materials, leather, and furskins into India is projected to see steady growth. In 2023, the value stood at approximately USD 26.5 million. Forecasted growth from 2024 to 2028 shows an average annual increase of around 4%. Specifically, from 2024 to 2025, and subsequently each year, there's an expected year-on-year rise of approximately 3-4%.

Future trends to watch for:

Potential changes in global oil prices, impacting the overall cost and import volumes.
Technological advancements in domestic production capabilities, possibly reducing dependency on imports.
Environmental regulations encouraging eco-friendly alternatives might influence the demand for petroleum-based products.