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Base Oil Market Witnesses Transformation Driven by Shift Toward Group II and III Grades
The global base oil market is entering a phase of sustained and structurally supported growth, driven by expanding industrial activity, rising vehicle production, and increasing demand for high-performance lubricants across multiple end-use sectors. Valued at approximately US$ 43.7 billion in 2025, the market is projected to reach US$ 65.9 billion by 2036, expanding at a CAGR of 3.8% during the...
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