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Base Oil Market Projected to Reach US$44.51 Billion by 2029: Maximize Market Research
The global base oil market is on track for steady growth, with a projected CAGR of 5% from 2023 to 2029. This expansion will see the market reach a value of nearly US$44.51 billion by 2029, up from US$31.63 billion in 2022. This growth is driven by the increasing demand for high-performance lubricants across various industries.
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Global Base Oil Market Projected to Reach Nearly US$45 Billion by 2029, Driven by Industrial Demand and Evolving Automotive Landscape
The global Base Oil Market is poised for steady growth, reaching an estimated US$44.51 billion by 2029 according to Maximize Market Research. This signifies a CAGR of 5% from 2023, fueled by rising demand from various industries and a dynamic automotive sector.
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