📊Executive Summary

The global Mineral Oil Base Fluid market is projected to grow significantly, driven by demand from semiconductor manufacturing and electric vehicle production. The market is characterized by a tight supply-demand balance, with refining capacity concentrated in a few integrated complexes. This concentration creates risks of price volatility and supply shortages due to potential refinery outages. The shift towards higher-performance base oils is also notable, with Group II and III base oils expected to dominate consumption by 2035. Procurement teams should monitor these trends closely as they may impact sourcing strategies and pricing dynamics....