Base oil market size to reach $40.47 billion by 2024
“The global base oil market is expected to reach USD 40.47 billion by 2024. Increasing utilization of lubricants in end-use industries such as industrial and automotive is expected to remain a key driving factor over the forecast period�
The global base oil market is expected to reach USD 40.47 billion by 2024, according to a new report by Grand View Research, Inc. Growing demand for industrial lubricants, greases, hydraulic fluids, and metal working fluids made from raw stock fluids such as base oil is anticipated to remain a key driving factor for the market growth. The shifting trend towards adoption of Group II and Group III base oil owing to the shutdown of Group I oil production facilities in Europe, and Asia Pacific is anticipated to fuel industry growth significantly. Detailed Research Report available at: http://www.grandviewresearch.com/industry-analysis/base-oil-market
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