Global Base Oil Market Size Was Valued at USD 32.82 Billion In 2023 And Is Projected to Reach USD 49.58 Billion By 2032, Growing at A CAGR of 4.69% From 2024-2032.
Base oil is the primary component of lubricants, making up 70-90% of the formulation. It is derived from refining crude oil or through chemical synthesis. Base oils are classified into five groups based on their refining...
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