The Group III base oils market is expected to have the highest compound annual growth rate (CAGR) among all base oil groups from 2023 to 2032, at 4.34 percent. This group of base oils is sometimes described as synthesized hydrocarbons even though it is made from crude oil. In comparison, the Group I base oils market is forecast to have the lowest CAGR during that timeframe, at 2.34 percent.
Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by group
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Inkwood Research. (May 17, 2023). Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by group [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1389325/global-base-oil-market-value-compound-annual-growth-rate-by-group/
Inkwood Research. "Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by group." Chart. May 17, 2023. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1389325/global-base-oil-market-value-compound-annual-growth-rate-by-group/
Inkwood Research. (2023). Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by group. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1389325/global-base-oil-market-value-compound-annual-growth-rate-by-group/
Inkwood Research. "Forecast Compound Annual Growth Rate of The Base Oil Market Worldwide from 2023 to 2032, by Group." Statista, Statista Inc., 17 May 2023, https://www.statista.com/statistics/1389325/global-base-oil-market-value-compound-annual-growth-rate-by-group/
Inkwood Research, Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by group Statista, https://www.statista.com/statistics/1389325/global-base-oil-market-value-compound-annual-growth-rate-by-group/ (last visited November 22, 2024)
Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by group [Graph], Inkwood Research, May 17, 2023. [Online]. Available: https://www.statista.com/statistics/1389325/global-base-oil-market-value-compound-annual-growth-rate-by-group/
