Market by Product Type, End-user, and Country | Forecast 2022-2028
The viscosity index
improvers market in North America is expected to develop with a CAGR of 2.70%
during the estimated years 2022-2028.
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The key countries
covered in this market include:
•
The United States
•
Canada
The
United States is the largest lubricant consumer in the world, dominating around
70-80% of the market. Besides, it is also one of the mature markets. However,
owing to several political reasons, numerous industries are now reshoring their
manufacturing bases back to the nation, which is boosting the demand and
adoption of both automotive as well as industrial lubricants. This, in turn,
will drive the demand for viscosity index improvers.
Additionally,
the US is the second-largest automotive manufacturer globally, second only to
China, and produced 10.88 million vehicle units in 2019. The nation’s domestic
automotive industry is one of the largest end-users of viscosity index
improvers. All these factors have supported the growth of the studied market here.
However,
in spite of the continuous growth of the nation’s auto industry over the past few
years, the sector has been witnessing a sharp decline in recent years. By
September 2020, the total production declined by about 25.1% Y-o-Y over the
same period in 2019. This can be attributed to several factors, such as the
trade war between the United States and China, along with the onslaught of the COVID-19
pandemic. The decreased production due to the virus outbreak affected the
automotive industry, thereby indirectly affecting the market for viscosity
index improvers.
Afton
Chemical Corporation is a company engaged in the development and manufacturing
of petroleum additives. Its wide portfolio of products includes fuel, engine
oil, driveline, & industrial additives, and lubricant components. The
company focuses primarily on power steering, automotive gear, wind turbine, grease,
vehicle performance, and other related applications. Afton provides its VI
improvers under the brand range HiTEC®. The US-based company was founded in
1877, and is headquartered in Richmond, Virginia. It has a strong workforce of
2,105 employees.
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VIEW REPORT1. NORTH
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. AUTOMOTIVE
PRODUCTION GROWTH IN THE ASIA-PACIFIC AND EUROPE
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. NORTH
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. NORTH
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. NORTH
AMERICA VISCOSITY INDEX IMPROVERS MARKET – REGIONAL OUTLOOK
5.1. UNITED
STATES
5.2. CANADA
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: NORTH 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: NORTH AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE 8: NORTH AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY END-USERS, 2022-2028 (IN $ MILLION)
TABLE 9: NORTH AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
TABLE 10: NORTH AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
FIGURE 1: MARKET ATTRACTIVENESS INDEX
FIGURE 2: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, PRODUCT
OUTLOOK, 2021 & 2028 (IN %)
FIGURE 3: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY
POLYMETHACRYLATE, 2022-2028 (IN $ MILLION)
FIGURE 4: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY OLEFIN
COPOLYMER, 2022-2028 (IN $ MILLION)
FIGURE 5: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY
POLYISOBUTYLENE, 2022-2028 (IN $ MILLION)
FIGURE 6: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY OTHER
PRODUCT TYPE, 2022-2028 (IN $ MILLION)
FIGURE 7: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, END-USERS
OUTLOOK, 2021 & 2028 (IN %)
FIGURE 8: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE,
2022-2028 (IN $ MILLION)
FIGURE 9: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY INDUSTRIAL,
2022-2028 (IN $ MILLION)
FIGURE 10: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, BY OTHER
END-USERS, 2022-2028 (IN $ MILLION)
FIGURE 11: NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET, REGIONAL
OUTLOOK, 2021 & 2028 (IN %)
FIGURE 12: UNITED STATES VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 13: CANADA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)