Base Oils Lubes Market to Expand at an Outstanding 1.7% CAGR between 2018 to 2026
The global base oil market was valued at US$ 33.2 Bn in 2017 and is projected to expand at a CAGR of 1.7% from 2018 to 2026, according to a new report titled ‘Base Oil Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) Growth in the global automotive sector and increase in number of manufacturing plants are key factors driving the global base oil market. In terms of grade, the global base oil market has been classified into group I, group II, group III, group IV (PAO), group V (excluding naphthenic), naphthenic, and re-refined. The group I segment has been further sub-segmented into SN150, BS150, SN250, SN500, and others. Similarly, the group II segment has been sub-segmented into N150, N250, N500, N600, and others. The group III segment has been sub-segmented into 2cSt, 4cSt, 6cSt, and 8cSt. The naphthenic segment has been further divided into 35-60 SUS, 80-130 SUS, 200-300 SUS,...