Global Base Oil Market Is Anticipated to Rise at a CAGR of 1.4% from 2015 to 2020
Stringent norms emphasizing on carbon footprints reduction and fuel economy enhancements are fuelling the demand for high-quality environment-friendly lubricants. This trend is bringing about a change in the global base oils market and is leading to constantly evolving lubricants formulation processes, thus acting as an important driver for the market. Moreover, with the continuous increasing in the vehicle production volumes worldwide, the demand for finished lubricants and base oils is rising at a tremendous pace.
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