NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET 2022-2028

Chemicals & Materials | Specialty Chemicals

NORTH AMERICA VISCOSITY INDEX IMPROVERS MARKET 2022-2028

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

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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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Table of Content

1. 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

6.6. 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: 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)           

List of Figures

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)  

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