GLOBAL VISCOSITY INDEX IMPROVERS MARKET 2022-2028

Chemicals & Materials | Specialty Chemicals

GLOBAL VISCOSITY INDEX IMPROVERS MARKET 2022-2028

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

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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.


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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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Table of Content

1. 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

6.6. 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: 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)

List of Figures

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)

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