Asia Pacific expected to reach the highest market value of any region, at 18.7 billion U.S. dollars in 2032, but it is also expected to have the highest CAGR of about 4.1 percent over the forecast period from 2023 to 2032. Meanwhile, Europe is forecast to rank second with a CAGR of 3.54 percent.
The base oil market worldwide is expected to have a total compound annual growth rate (CAGR) of 3.67 percent between 2023 and 2032. Not only is Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by region
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Other statistics that may interest you Oil industry worldwide
Overview
4
Reserves & production
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Trade & prices
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- Premium Statistic Global seaborne trade volume of crude oil 2010-2022
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Consumption
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Companies
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- Premium Statistic Leading global oil and gas producers based on revenue 2023
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- Premium Statistic BP's operating revenue 2005-2023
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Employment
3
Outlook
4
Further related statistics
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- Global oil production share 2010-2022, by region
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Statistics
- Global oil production share 2010-2022, by region
- Devon Energy revenue 2007-2023
- Oil production in Venezuela 2008-2022
- Oil production in Libya 1998-2022
- Oil consumption in Japan 1990-2022
- ExxonMobil's Downstream net profit 2001-2021
- ExxonMobil's petroleum product sales 2001-2023
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Topics
Oil industry worldwideInkwood Research. (May 17, 2023). Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by region [Graph]. In Statista. Retrieved June 12, 2024, from https://www.statista.com/statistics/1389314/global-base-oil-market-value-annual-growth-rate-by-region/
Inkwood Research. "Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by region." Chart. May 17, 2023. Statista. Accessed June 12, 2024. https://www.statista.com/statistics/1389314/global-base-oil-market-value-annual-growth-rate-by-region/
Inkwood Research. (2023). Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by region. Statista. Statista Inc.. Accessed: June 12, 2024. https://www.statista.com/statistics/1389314/global-base-oil-market-value-annual-growth-rate-by-region/
Inkwood Research. "Forecast Compound Annual Growth Rate of The Base Oil Market Worldwide from 2023 to 2032, by Region." Statista, Statista Inc., 17 May 2023, https://www.statista.com/statistics/1389314/global-base-oil-market-value-annual-growth-rate-by-region/
Inkwood Research, Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by region Statista, https://www.statista.com/statistics/1389314/global-base-oil-market-value-annual-growth-rate-by-region/ (last visited June 12, 2024)
Forecast compound annual growth rate of the base oil market worldwide from 2023 to 2032, by region [Graph], Inkwood Research, May 17, 2023. [Online]. Available: https://www.statista.com/statistics/1389314/global-base-oil-market-value-annual-growth-rate-by-region/