Market Size of Sri Lanka Lubricants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 64.31 Million liters |
| Market Volume (2029) | 60.45 Million liters |
| CAGR (2024 - 2029) | -1.23 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Srilanka Lubricant Market Analysis
The Sri Lanka Lubricants Market size is estimated at 64.31 Million liters in 2024, and is expected to decline to 60.45 Million liters by 2029.
- Due to government-imposed lockdowns and limitations, the market in the country has witnessed a dramatic decline during the COVID-19 epidemic. The automobile sector had a slump in 2021 as a result of a car import restriction and the closure of some factories owing to environmental concerns. The market is expected to see an upward trend in the forecasted years.
- Increasing usage of lubricants in automobiles and increasing demand from the agricultural machinery sector are driving market growth. Reduced mining and building activity are projected to stifle market growth. The development of bio-based lubricants is expected to act as an opportunity for the market studied.
