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Base Oil Market

Global base oil market is expected to foresee significant growth due to growing automotive industry and industrial production in developing economies

The global Base Oil Market was stood around $30 billion in 2020 and is expected to demonstrate the growth of ~4% during the forecast period (2021-2027). Developing economies like Brazil, China, India, and Mexico are focusing on industrialization so the demand of machineries is increasing as a result thus fueling the demand of lubricants in order to reduce the friction …

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