Base Oil Market by Group (Group I, Group II, Group III, Group IV, Group V), Application (Automotive

Javed0007617 Jan, 2022Business

The global market for Base Oil was estimated at USD 30 Billion in the year 2021 and is projected to reach USD 39.31 Billion by 2027, growing at a CAGR of 4.6 % over the forecast period. Base oils are used to make lubricating greases, motor oil, and metal processing fluids, among other things. Varied products required different oil compositions and qualities. The viscosity of the liquid at different temperatures is one of the most essential aspects. The number of base oil molecules, as well as how quickly they can be removed, influence whether or not a crude oil is appropriate for making into a base oil.

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