Market Study on Automotive Engine Oil: Sales of Synthetic Oil Variants to Remain High

Krazymedia05 Dec, 2022Business

According to Persistence Market Research, revenue from the global automotive engine oil market totaled US$ 42.4 Bn at the end of 2021. Worldwide demand for automotive engine oil is expected to reach US$ 55.1 Bn by 2032, increasing at a CAGR of 2.2%. Automotive engine oil, commonly referred to as motor oil, is a lubricant used in the internal combustion process that takes place in an engine to produce power for motorcycles, vehicles, and several other types of automotive engines. Automotive engine oil's primary purpose is to reduce friction and wear on the moving parts of an engine and is also essential for removing varnish and sludge from the engine.

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