Strategic Insights into the Global Base Oil Market
Base oil, often referred to as base stock, is a fundamental raw material in the production of lubricants. It functions as the foundation for formulating a variety of lubricants, including engine oils, industrial oils, and hydraulic fluids. The base oil market plays a vital role in the global lubricants industry, and it has experienced significant growth fueled by increased demand for high-quality lubricants across a range of industries.