Industrial Oils Market (By Source: Soybean, Corn, Sunflower, Cottonseed, Rapeseed, Palm, Others; By Type: Grade I (Light), Grade II (Medium), Grade III (Heavy); By Product: Turbine Oil, Refrigeration Oil, Compressor Oil, Electrical Oil, Heat Transfer Oil; By End User: Biofuel, Paints & Coatings, Cosmetics & Personal Care, Pharmaceuticals, Power Generation, Heavy Equipment, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030
The global industrial oil market size was valued at USD 94.72 billion in 2021 and it is expected to reach USD 150 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.24% during the forecast period 2022 to 2030.