The #BaseOil Market, valued at USD 34.9 billion in 2022, is projected to reach USD 41.7 billion by 2030, growing at a 1.8% CAGR. Base oil, derived from vacuum gasoil (VGO) or residue, is essential for lubricating oils used in machinery and engines. Rising lubricant demand, especially in automotive engines, is driving market growth globally. Read More: https://wemarketresearch.com/reports/base-oil-market/778 #BaseOil #Lubricants #OilIndustry #AutomotiveLubricants #EngineOil #IndustrialOils

#BaseOil is the primary ingredient in lubricants, making up 70-90% of the final product. It is derived from crude oil through refining or chemical synthesis and is classified into Group I to V based on purity and performance. Used in automotive, industrial, and marine applications, base oils ensure smooth machinery operation and reduce friction and wear. Read More: https://wemarketresearch.com/reports/base-oil-market/778 #BaseOil #Lubricants #IndustrialOils #OilIndustry #RefinedOil #EnergyEfficiency #LubricationTechnology #OilRefining