LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET 2022-2028

Chemicals & Materials | Specialty Chemicals

LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET 2022-2028

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

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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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Table of Content

1. 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

6.6. 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: 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)           

List of Figures

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)         

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