The base oil market, crucial for producing lubricants, is evolving. Base oils, refined from crude oil, are vital for machinery across automotive, industrial, and marine sectors. In 2023, the market was valued at USD 20.53 billion. It is projected to grow to over USD 33.45 billion by 2033, with a CAGR of 5.6% during the forecast period. https://www.globalinsightservices.com/reports/base-oil-market