The Vietnamese market for lubricants made of less than 70% petroleum oil demonstrated a relatively stable demand from 2013 to 2023, with a value per capita increasing from $0.45 in 2013 to $0.48 by 2023. The most significant disruption occurred in 2020, when the value dropped to $0.39, likely due to global economic challenges. Recovery ensued quickly, with a notable year-on-year increase of approximately 15.38% from 2020 to 2021, stabilizing at around $0.48 by 2023. The Compound Annual Growth Rate (CAGR) over the last five years was modest.

Future trends to watch for in this sector include:

Transition towards eco-friendly lubricants as environmental regulations tighten.
Technological advancements in automotive and industrial sectors increasing demand for high-performance lubricants.
Potential market expansion in rural areas as industrial activities grow.