The Petroleum Based Lubricant Market Size Value Per Capita in India exhibited consistent growth from 2013 to 2018, increasing from $0.74 to $1.21. A slight decline occurred in 2019 with $1.14, which further decreased in 2020 to $0.99, primarily due to global disruptions. Recovery began in 2021 with $1.17, peaking at $1.3 in 2023. Over the last two years, there was an average year-on-year growth of 5.3%. The compound annual growth rate (CAGR) over the last five years (2018-2023) is around 1.5%.
Future trends to watch for in the sector include:
- Influence of sustainable and eco-friendly lubricants as environmental regulations tighten.
- Technological advancements in lubricant formulations improving efficiency and lifespan.
- The increasing role of electric vehicles potentially affecting demand for traditional lubricants.
| # | 43 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 40.43 | 2023 | View data | ||
| 2 | 2 Iceland | 40.38 | 2023 | View data | ||
| 3 | 3 Sweden | 39.21 | 2023 | View data | ||
| 4 | 4 Norway | 35.62 | 2023 | View data | ||
| 5 | 5 Canada | 32 | 2023 | View data | ||
| 40 | 40 Bolivia | 2.17 | 2023 | View data | ||
| 41 | 41 Pakistan | 1.85 | 2023 | View data | ||
| 42 | 42 India | 1.3 | 2023 | |||
| 43 | 43 Sri Lanka | 1.28 | 2023 | View data | ||
