Base Oil Market Trends , Revenue, Development, Future Analysis, Business Prospects and Globally Industry Growing at a CAGR
MRFR recognizes the following companies as the key players in the global base oil market Trends—GS Caltex Corporation (U.S.), Petroliam Nasional Berhad (PETRONAS) (Malaysia), Chevron Corporation (U.S.), Exxon Mobil Corporation (U.S.), Saudi Aramco (Saudi Arabia), Royal Dutch Shell plc (The Netherlands), Sinopec Corp (China), Petrochina Company Limited China), Abu Dhabi National Oil Company (ADNOC) (UAE), ENEOS Corporation (Japan), Hindustan Petroleum Corporation Limited (India), Repsol S.A. (Spain), and Eni S.p.A. (Italy). Market Highlights The global Base Oil Market trendsis projected to be valued at USD 39,683.45 million by the end of 2028,registering a CAGR of around 4.71% during the forecast period. Base oil forms the primary raw material for any types of lubricant or grease used across the world. Lubricants are obtained by adding various additives to base oil in order to improve its viscosity, hydraulic stability, high-temperature performance, and cleaning properties.