Global base oil market is expected to foresee significant growth due to growing automotive industry and industrial production in developing economies
- Himanshu Patni
- December 3, 2021
- CHEMICAL, NEWS
- Base Oil Market, Base Oil Market growth, Base Oil Market share, Base Oil Market size, Base Oil Market trends
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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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