India Base Oil Market Estimated to Grow at a Steady Rate Through 2025
Rapid industrialization and surging demand for high-grade oils in the automotive industry to propel the growth of the base oil market in India According to TechSci Research report, “ India Base Oil Market By Type, By Application, Competition, Forecast & Opportunities, 2025 ” , India base oil market is predicted to grow at a steady pace during the forecast period on account of rising concerns over environmental degradation coupled with the subsequent upsurge in demand for alternative, sustainable products having lower carbon footprints. In addition to this, increasing adoption of group II as well as group III base oil on account of increasing ground transportation, commercial road transportation and aviation is expected to support the base oil market growth in the country over the next five years. Furthermore, expanding production capabilities in the country is likely to provide lucrative growth opportunities for the market during the forecast period. However, volatility ...