Market by Product Type, End-user, and Country | Forecast 2022-2028
A study by Triton
Market Research has concluded the viscosity index improvers market in Latin
America to progress with a CAGR of 3.08% over the forecasting years 2022-2028.
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The countries studied
in this market include:
• Brazil
• Mexico
• Rest of Latin America
Brazil
is the largest economy in Latin America and also the ninth-largest economy
globally in terms of GDP. It is one of the leading automotive manufacturers.
The Brazilian automotive industry recorded growth, following a downfall in 2015
and 2016. Post that, automotive production in the country registered a growth
up to 2019.
The
production, sales, and export of automobiles registered an overall decline of
21% in March 2020, compared to the same period in 2019. Due to the COVID
pandemic, several leading companies, such as Fiat, GM Brazil, Volkswagen, Volvo,
etc., either shut down their facilities or ran at a very limited capacity. The
halt in automobile production activity in most plants across the country
resulted in a negative outlook for the viscosity index improvers market.
The
decline in the growth of the auto industry also continued in 2021. However,
this industry is expected to recover gradually, and grow substantially in the
later part of the forecast period. This is expected to drive the demand for
viscosity index improvers in the country, thereby driving the market growth in
the projected period.
Similarly,
in Mexico, the automotive industry witnessed a drop, as a result of the
pandemic-imposed restrictions. However, the country had signed a revised
version of the new NAFTA in December 2019, which is expected to offer greater
certainty for its automotive industry, and could help it recover in the
forthcoming years. This, in turn, would create scope for the viscosity index
improvers market.
BPT
Chemical Co Ltd is a well-known company that supplies lubricant additives. Its
offerings include viscosity index improvers (liquid form, pellet form, bale
form) and a wide range of PPD. It also offers OCP viscosity index improvers.
Moreover, it offers styrene-based
viscosity modifiers under its SVM series. The company was founded in 2008. It
serves customers across various parts of the world, including the countries in
Latin America.
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VIEW REPORT1. LATIN
AMERICA 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. RISE
IN THE DEMAND FOR LUBRICANTS
2.6.2. INCREASING
CONSUMPTION OF ENGINE OILS
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. INCREASING
CONSUMPTION OF ENGINE OILS
3. LATIN
AMERICA VISCOSITY INDEX IMPROVERS MARKET OUTLOOK – BY PRODUCT TYPE
3.1. POLYMETHACRYLATE
3.2. OLEFIN
COPOLYMER
3.3. POLYISOBUTYLENE
3.4. OTHER
PRODUCT TYPE
4. LATIN
AMERICA 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. LATIN
AMERICA VISCOSITY INDEX IMPROVERS MARKET – REGIONAL OUTLOOK
5.1. BRAZIL
5.2. MEXICO
5.3. REST
OF LATIN AMERICA
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
6.7. 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
TABLE 1: LATIN AMERICA
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: LATIN AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE 8: LATIN AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY END-USERS, 2022-2028 (IN $ MILLION)
TABLE 9: LATIN AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
TABLE 10: LATIN AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
FIGURE 1: MARKET ATTRACTIVENESS INDEX
FIGURE 2: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, PRODUCT
OUTLOOK, 2021 & 2028 (IN %)
FIGURE 3: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY
POLYMETHACRYLATE, 2022-2028 (IN $ MILLION)
FIGURE 4: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY OLEFIN
COPOLYMER, 2022-2028 (IN $ MILLION)
FIGURE 5: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY
POLYISOBUTYLENE, 2022-2028 (IN $ MILLION)
FIGURE 6: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY OTHER
PRODUCT TYPE, 2022-2028 (IN $ MILLION)
FIGURE 7: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, END-USERS
OUTLOOK, 2021 & 2028 (IN %)
FIGURE 8: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE,
2022-2028 (IN $ MILLION)
FIGURE 9: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY INDUSTRIAL,
2022-2028 (IN $ MILLION)
FIGURE 10: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY OTHER
END-USERS, 2022-2028 (IN $ MILLION)
FIGURE 11: LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET, REGIONAL
OUTLOOK, 2021 & 2028 (IN %)
FIGURE 12: BRAZIL VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 13: MEXICO VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 14: REST OF LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET
2022-2028 (IN $ MILLION)