According to the SNS Insider report, the base oil market is valued at USD 20.86 billion in 2023 and is projected to reach USD 33.20 billion by the end of 2032. During the forecast period of 2024-2032, it will grow with a CAGR of 5.3%. This growth has been influenced by growing industrial activities along with increasing demand for high-performance lubricants. https://www.globenewswire.com/news-release/2024/08/26/2935528/0/en/Base-Oil-Market-to-Reach-USD-33-20-Billion-by-2032-due-to-Growing-Demand-Across-Industries-Research-by-SNS-Insider.html