Key factors driving the demand for base oil across the globe are rapid industrialization of several economies, rise in sale of vehicles, and increase in logistics & trade. Sales of vehicles is a direct indicator and driver of the demand for lubricants. High number of vehicles translates into high demand for lubricating oil, and high demand for lubricating oil translates into high demand for base oil. Various nations such as India, China, South Korea, Mexico, Indonesia, Thailand, and Malaysia have registered substantial rise in vehicle sales. This has boosted the demand for lubricants and base oils. Key areas of application of base oil are industrial oils, hydraulic oils, and process oils. These applications are fueled by rapid industrialization of several developing nations, primarily China, India, and Brazil. Industrialization requires installation and operation of a wide range of machinery and equipment. These require lubricants, and by extension, base oil