Market by Product Type, End-user, and Geography | Forecast 2022-2028
Viscosity index improvers (VIIs) are polymers that are the key ingredients in many lubricating oils. Viscosity modifiers or improvers are used to improve temperature performance, cleanliness, and efficiency by offering durability and protecting equipment from severe wear.
The global viscosity index improvers market was valued at $3978.35 million in 2021, and is expected to reach $4913.98 million by 2028, growing at a CAGR of 3.01% during the forecast period 2022-2028.
Triton’s report on the
viscosity index improvers market provides an in-depth insight into the industry.
The detailed analysis of the market includes the impact of COVID-19 on viscosity
index improvers; key insights, Porter’s five forces analysis, vendor scorecard,
and market attractiveness index.
A rise in the demand
for lubricants, coupled with a growth in automotive production in the Asia-Pacific
and Europe regions, is the key factor driving the market’s growth. Engine oil
specifications for vehicles are undergoing consistent developments, and are thus
augmenting the need for newer lubricant formulations. The increasing emission
regulations for lubricants in the automotive and industrial sectors are
expected to drive the market for lubricant additives over the forecast period.
Other than the market drivers,
there is industrial growth in the Middle East and Africa, and therefore, the region
is attracting investments by leading players, which is expected to offer
lucrative growth opportunities. Furthermore, the increasing consumption of
engine oils is further anticipated to enable the market to grow in terms of
revenue.
However, with the emergence of high-performance and long-lasting lubricants, the oil change interval has extended almost by 100%. Thus, the consumption of lubricants and engine oils, and, in turn, viscosity index improvers, is decreasing.
Key geographies covered in the global viscosity index
improvers market are:
• North America: United States and Canada
• Europe:
United Kingdom, France, Germany, Spain, Italy, Russia, and Rest of Europe
• Asia-Pacific:
China, Japan, India, Australia, South Korea, ASEAN Countries, and Rest of
Asia-Pacific
• Latin America: Brazil, Mexico, and Rest of Latin America
• Middle East and Africa: Saudi Arabia, the United Arab Emirates, Turkey, South Africa, and Rest of Middle East & Africa
The segmentation analysis of the viscosity index improvers
market includes:
• Product Type is segmented into:
o Polymethacrylate
o Olefin Copolymer
o Polyisobutylene
o Other Product Type
• End-users is segmented into:
o Automotive
• Passenger Vehicles
• Heavy-duty Vehicles
• Other Vehicles
o Industrial
o Other End-users
The top companies in
the viscosity index improvers market include BPT Chemical Co Ltd, ENI SpA,
Sanyo Chemical Industries Ltd, BRB International BV, Exxon Mobil Corporation,
Croda International Plc, BASF SE, Chevron Oronite Company LLC, Shanghai Minglan
Chemical Co Ltd, Infineum International Limited, Asian Oil Company, Jilin
Xingyun Chemical Co Ltd, Jinzhou Kangtai Lubricant Additives Co Ltd, Lubrizol
Corporation, Afton Chemical Corporation, and Evonik Industries AG.
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VIEW REPORT1. GLOBAL
VISCOSITY INDEX IMPROVERS MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. KEY
INSIGHTS
2.1.1. EMERGENCE
OF THE ASIA-PACIFIC AS A MANUFACTURING HUB
2.1.2. INCREASING
CONSUMPTION OF ENGINE OILS
2.2. KEY
MARKET STRATEGIES
2.2.1. ACQUISITIONS
2.2.2. PRODUCT
DEVELOPMENTS
2.2.3. CONTRACTS
& AGREEMENTS
2.2.4. INVESTMENTS
& EXPANSIONS
2.3. IMPACT
OF COVID-19 ON THE VISCOSITY INDEX IMPROVERS INDUSTRY
2.4. PORTER’S
FIVE FORCES ANALYSIS
2.4.1. THREAT
OF NEW ENTRANTS
2.4.2. THREAT
OF SUBSTITUTE
2.4.3. BARGAINING
POWER OF BUYERS
2.4.4. BARGAINING
POWER OF SUPPLIERS
2.4.5. THREAT
OF COMPETITIVE RIVALRY
2.5. MARKET
ATTRACTIVENESS INDEX
2.6. VENDOR
SCORECARD
2.7. MARKET
DRIVERS
2.7.1. RISE
IN THE DEMAND FOR LUBRICANTS
2.7.2. AUTOMOTIVE
PRODUCTION GROWTH IN THE ASIA-PACIFIC AND EUROPE
2.8. MARKET
CHALLENGES
2.8.1. LONGER
DRAIN INTERVALS FOR HIGH-GRADE LUBRICANTS
2.8.2. COST
CONSTRAINTS
2.9. MARKET
OPPORTUNITIES
2.9.1. INDUSTRIAL
GROWTH IN THE MIDDLE EAST AND AFRICA
3. GLOBAL
VISCOSITY INDEX IMPROVERS MARKET OUTLOOK – BY PRODUCT TYPE
3.1. POLYMETHACRYLATE
3.2. OLEFIN
COPOLYMER
3.3. POLYISOBUTYLENE
3.4. OTHER
PRODUCT TYPE
4. GLOBAL
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. GLOBAL
VISCOSITY INDEX IMPROVERS MARKET – REGIONAL OUTLOOK
5.1. NORTH
AMERICA
5.1.1. MARKET
BY PRODUCT TYPE
5.1.2. MARKET
BY END-USER
5.1.2.1. MARKET
BY AUTOMOTIVE
5.1.3. COUNTRY
ANALYSIS
5.1.3.1. UNITED
STATES
5.1.3.2. CANADA
5.2. EUROPE
5.2.1. MARKET
BY PRODUCT TYPE
5.2.2. MARKET
BY END-USER
5.2.2.1. MARKET
BY AUTOMOTIVE
5.2.3. COUNTRY
ANALYSIS
5.2.3.1. UNITED
KINGDOM
5.2.3.2. GERMANY
5.2.3.3. FRANCE
5.2.3.4. SPAIN
5.2.3.5. ITALY
5.2.3.6. RUSSIA
5.2.3.7. REST
OF EUROPE
5.3. ASIA-PACIFIC
5.3.1. MARKET
BY PRODUCT TYPE
5.3.2. MARKET
BY END-USER
5.3.2.1. MARKET
BY AUTOMOTIVE
5.3.3. COUNTRY
ANALYSIS
5.3.3.1. CHINA
5.3.3.2. JAPAN
5.3.3.3. INDIA
5.3.3.4. SOUTH
KOREA
5.3.3.5. ASEAN
COUNTRIES
5.3.3.6. AUSTRALIA
& NEW ZEALAND
5.3.3.7. REST
OF ASIA-PACIFIC
5.4. LATIN
AMERICA
5.4.1. MARKET
BY PRODUCT TYPE
5.4.2. MARKET
BY END-USER
5.4.2.1. MARKET
BY AUTOMOTIVE
5.4.3. COUNTRY
ANALYSIS
5.4.3.1. BRAZIL
5.4.3.2. MEXICO
5.4.3.3. REST
OF LATIN AMERICA
5.5. MIDDLE
EAST AND AFRICA
5.5.1. MARKET
BY PRODUCT TYPE
5.5.2. MARKET
BY END-USER
5.5.2.1. MARKET
BY AUTOMOTIVE
5.5.3. COUNTRY
ANALYSIS
5.5.3.1. UNITED
ARAB EMIRATES
5.5.3.2. SAUDI
ARABIA
5.5.3.3. TURKEY
5.5.3.4. SOUTH
AFRICA
5.5.3.5. REST
OF MIDDLE EAST & AFRICA
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: GLOBAL
VISCOSITY INDEX IMPROVERS MARKET, BY GEOGRAPHY, 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: GLOBAL
VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE 8: GLOBAL VISCOSITY
INDEX IMPROVERS MARKET, BY END-USERS, 2022-2028 (IN $ MILLION)
TABLE 9: GLOBAL
VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
TABLE 10: GLOBAL
VISCOSITY INDEX IMPROVERS MARKET, BY GEOGRAPHY, 2022-2028 (IN $ MILLION)
TABLE 11: NORTH AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 12: NORTH AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE 13: NORTH AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY END-USER, 2022-2028 (IN $ MILLION)
TABLE 14: NORTH AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
TABLE 15: EUROPE
VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 16: EUROPE
VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE 17: EUROPE
VISCOSITY INDEX IMPROVERS MARKET, BY END-USER, 2022-2028 (IN $ MILLION)
TABLE 18: EUROPE
VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
TABLE 19: ASIA-PACIFIC
VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 20: ASIA PACIFIC
VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE 21: ASIA-PACIFIC
VISCOSITY INDEX IMPROVERS MARKET, BY END-USER, 2022-2028 (IN $ MILLION)
TABLE 22: ASIA-PACIFIC
VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
TABLE 23: LATIN AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 24: LATIN AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE 25: LATIN AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY END-USER, 2022-2028 (IN $ MILLION)
TABLE 26: LATIN AMERICA
VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
TABLE 27: MIDDLE EAST
AND AFRICA VISCOSITY INDEX IMPROVERS MARKET, BY COUNTRY, 2022-2028 (IN $
MILLION)
TABLE 28: MIDDLE EAST
AND AFRICA VISCOSITY INDEX IMPROVERS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $
MILLION)
TABLE 29: MIDDLE EAST
AND AFRICA VISCOSITY INDEX IMPROVERS MARKET, BY END-USER, 2022-2028 (IN $
MILLION)
TABLE 30: MIDDLE EAST
AND AFRICA VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2028 (IN $
MILLION)
FIGURE 1: MARKET ATTRACTIVENESS INDEX
FIGURE 2: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, PRODUCT OUTLOOK, 2021
& 2028 (IN %)
FIGURE 3: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, BY POLYMETHACRYLATE,
2022-2028 (IN $ MILLION)
FIGURE 4: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, BY OLEFIN COPOLYMER,
2022-2028 (IN $ MILLION)
FIGURE 5: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, BY POLYISOBUTYLENE,
2022-2028 (IN $ MILLION)
FIGURE 6: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, BY OTHER PRODUCT TYPE,
2022-2028 (IN $ MILLION)
FIGURE 7: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, END-USERS OUTLOOK,
2021 & 2028 (IN %)
FIGURE 8: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, BY AUTOMOTIVE,
2022-2028 (IN $ MILLION)
FIGURE 9: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, BY INDUSTRIAL,
2022-2028 (IN $ MILLION)
FIGURE 10: GLOBAL VISCOSITY INDEX IMPROVERS MARKET, BY OTHER END-USERS,
2022-2028 (IN $ MILLION)
FIGURE 11: GLOBAL 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)
FIGURE 14: UNITED KINGDOM VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN
$ MILLION)
FIGURE 15: GERMANY VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 16: FRANCE VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 17: SPAIN VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 18: ITALY VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 19: RUSSIA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 20: REST OF EUROPE VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN
$ MILLION)
FIGURE 21: CHINA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 22: JAPAN VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 23: INDIA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 24: SOUTH KOREA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 25: ASEAN COUNTRIES VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN
$ MILLION)
FIGURE 26: AUSTRALIA & NEW ZEALAND VISCOSITY INDEX IMPROVERS MARKET
2022-2028 (IN $ MILLION)
FIGURE 27: REST OF ASIA PACIFIC VISCOSITY INDEX IMPROVERS MARKET
2022-2028 (IN $ MILLION)
FIGURE 28: BRAZIL VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $ MILLION)
FIGURE 29: MEXICO VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 30: REST OF LATIN AMERICA VISCOSITY INDEX IMPROVERS MARKET
2022-2028 (IN $ MILLION)
FIGURE 31: UNITED ARAB EMIRATES VISCOSITY INDEX IMPROVERS MARKET 2022-2028
(IN $ MILLION)
FIGURE 32: SAUDI ARABIA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 33: TURKEY VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 34: SOUTH AFRICA VISCOSITY INDEX IMPROVERS MARKET 2022-2028 (IN $
MILLION)
FIGURE 35: REST OF MIDDLE EAST & AFRICA VISCOSITY INDEX IMPROVERS
MARKET 2022-2028 (IN $ MILLION)