ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET 2022-2028

Chemicals & Materials | Specialty Chemicals

ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET 2022-2028

Market by Product Type, End-user, and Country | Forecast 2022-2028

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As per Triton Market Research, the Asia-Pacific viscosity index improvers market is expected to grow with a CAGR of 3.24% in the forecasting duration from 2022-2028.


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The countries studied in this market include:

•           China

•           South Korea

•           Japan

•           India

•           ASEAN countries

•           Australia & New Zealand

•           Rest of Asia-Pacific

India is the second-largest consumer of lubricants in the Asia-Pacific, and the third-largest in the world, following the United States and China. The nation holds nearly 7% of the total share in the global lubricants market. The Indian market has 20 organized players, including Castrol, Gulf Oil, Shell, Veedol, Total, and Valvoline, among others. Besides, the public sector oil marketing companies here also dominate the market. In the past few years, private players have begun to grow rapidly, due to their expansive reach and innovative products & services. This trend is anticipated to continue in the long run, and the positive outlook for the lubricants industry is expected to benefit the market for viscosity index improvers in the coming years.

Estimates from OICA suggest that India produced 2.16 million vehicle units from January to September 2020. This was a major decline of 38.4%, compared to 3.51 million units in the same period during the preceding year. The spread of the COVID-19 pandemic further affected the manufacturing and construction industries in early 2020. However, supportive government initiatives, such as ‘Make in India’ and ‘Atma Nirbhar Bharat,’ are likely to bolster the automotive industry. This, in turn, will influence the demand for viscosity index improvers in India in the coming period.

Jilin Xingyun Chemical Co Ltd is engaged in chemical production businesses. The company produces acrylonitrile catalysts, polyethylene catalysts, anti-freezing fluids, oil refining auxiliaries, dispersants, hexane, and lubricant oil products. It has 13 production facilities, with more than a 100 varieties of products. Jilin Xingyun Chemical has 4 production bases located in Jilin Chuanying District, Jilin Economic Development Zone, Jilin Longtan Chemical Industry Park, and Shandong Province. The company was founded in 1993, and is headquartered in Jilin City, China.

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Table of Content

1. ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET – SUMMARY

2. INDUSTRY OUTLOOK

2.1. KEY MARKET STRATEGIES

2.1.1. ACQUISITIONS

2.1.2. PRODUCT DEVELOPMENTS

2.1.3. CONTRACTS & AGREEMENTS

2.1.4. INVESTMENTS & EXPANSIONS

2.2. IMPACT OF COVID-19 ON THE VISCOSITY INDEX IMPROVERS INDUSTRY

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTE

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. MARKET DRIVERS

2.6.1. EMERGENCE OF THE ASIA-PACIFIC AS A MANUFACTURING HUB

2.6.2. RISE IN THE DEMAND FOR LUBRICANTS

2.7. MARKET CHALLENGES

2.7.1. LONGER DRAIN INTERVALS FOR HIGH-GRADE LUBRICANTS

2.7.2. COST CONSTRAINTS

2.8. MARKET OPPORTUNITIES

2.8.1. AUTOMOTIVE PRODUCTION GROWTH IN THE ASIA-PACIFIC AND EUROPE

2.8.2. INCREASING CONSUMPTION OF ENGINE OILS

3. ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET OUTLOOK – BY PRODUCT TYPE

3.1. POLYMETHACRYLATE

3.2. OLEFIN COPOLYMER

3.3. POLYISOBUTYLENE

3.4. OTHER PRODUCT TYPE

4. ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET OUTLOOK – BY END-USER

4.1. AUTOMOTIVE

4.1.1. PASSENGER VEHICLES

4.1.2. HEAVY-DUTY VEHICLES

4.1.3. OTHER VEHICLES

4.2. INDUSTRIAL

4.3. OTHER END-USERS

5. ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET – REGIONAL OUTLOOK

5.1. CHINA

5.2. JAPAN

5.3. INDIA

5.4. SOUTH KOREA

5.5. ASEAN COUNTRIES

5.6. AUSTRALIA & NEW ZEALAND

5.7. REST OF ASIA-PACIFIC

6. COMPETITIVE LANDSCAPE

6.1. AFTON CHEMICAL CORPORATION

6.2. BASF SE

6.3. CHEVRON ORONITE COMPANY LLC

6.4. EVONIK INDUSTRIES AG

6.5. BPT CHEMICAL CO LTD

6.6. LUBRIZOL CORPORATION

6.7. INFINEUM INTERNATIONAL LIMITED

6.8. SANYO CHEMICAL INDUSTRIES LTD

6.9. CRODA INTERNATIONAL PLC

6.10. BRB INTERNATIONAL BV

6.11. JINZHOU KANGTAI LUBRICANT ADDITIVES CO LTD

6.12. SHANGHAI MINGLAN CHEMICAL CO LTD

6.13. JILIN XINGYUN CHEMICAL CO LTD

6.14. EXXON MOBIL CORPORATION

6.15. ENI SPA

6.16. ASIAN OIL COMPANY

7. RESEARCH METHODOLOGY & SCOPE

7.1. RESEARCH SCOPE & DELIVERABLES

7.2. SOURCES OF DATA

7.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)

TABLE 2: LIST OF ACQUISITIONS        

TABLE 3: LIST OF PRODUCT DEVELOPMENTS      

TABLE 4: LIST OF CONTRACTS & AGREEMENTS   

TABLE 5: LIST OF INVESTMENTS & EXPANSIONS 

TABLE 6: VENDOR SCORECARD        

TABLE 7: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY END-USERS, 2022-2028 (IN $ MILLION)        

TABLE 9: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)          

TABLE 10: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)         

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX       

FIGURE 2: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, PRODUCT OUTLOOK, 2021 & 2028 (IN %)

FIGURE 3: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY POLYMETHACRYLATE, 2022-2028 (IN $ MILLION)   

FIGURE 4: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY OLEFIN COPOLYMER, 2022-2028 (IN $ MILLION)

FIGURE 5: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY POLYISOBUTYLENE, 2022-2028 (IN $ MILLION)

FIGURE 6: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY OTHER PRODUCT TYPE, 2022-2028 (IN $ MILLION)           

FIGURE 7: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, END-USERS OUTLOOK, 2021 & 2028 (IN %)

FIGURE 8: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)          

FIGURE 9: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY INDUSTRIAL, 2022-2028 (IN $ MILLION)          

FIGURE 10: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, BY OTHER END-USERS, 2022-2028 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC VISCOSITY INDEX IMPROVERS MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)

FIGURE 12: CHINA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $ MILLION)     

FIGURE 13: JAPAN VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $ MILLION)    

FIGURE 14: INDIA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $ MILLION)       

FIGURE 15: SOUTH KOREA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $ MILLION)      

FIGURE 16: ASEAN COUNTRIES VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $ MILLION)      

FIGURE 17: AUSTRALIA & NEW ZEALAND VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $ MILLION)          

FIGURE 18: REST OF ASIA PACIFIC VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $ MILLION)       

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