A recent report published by Infinium Global Research on viscosity index improvers market provides in-depth analysis of segments and sub-segments in the global as well as regional viscosity index improvers market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional viscosity index improvers market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global viscosity index improvers market. According to the report, the global viscosity index improvers market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
The modern society would not be running smoothly without lubricants. Lubricants form a protective film between two moving parts and allow the parts to move without requiring too much energy. While characterizing lubricants and evaluating their quality, the most important parameter is the viscosity index (VI). These are additives that rise the viscosity of the fluid throughout its useful temperature range. Viscosity improvers are mainly used in multigrade engine oils, gear oils, automatic transmission fluids, power steering fluids, greases, and various hydraulic fluids. Viscosity improvers are widely used in the automobile industry and this is because automobiles are subjected to terrific temperature swings. Viscosity index improvers are used to limit the rate of viscosity change with the temperature. These improvers have a slight effect on oil viscosity at the low temperatures. However, when heated the improvers enable the oil viscosity to increase within the limited range. This quality is most useful in the application of multi-grade motor oils.
The viscosity index improvers accomplish the maximum efficiency, performs better even at low temperature and defend the equipment from harmful wear. The demand for viscosity index improvers is increasing from the end-user industries due to its applications that help to drive the growth of the market. Increasing demand for lubricants is the major growth factor of the viscosity index improvers market. Furthermore, rising demand for viscosity index improvers for the automotive industry and industrial lubricant are also driving the growth of the market. The growth in automotive, energy, and industrial machinery sector increasing the demand of the viscosity index improvers. However, the rise in the oil drain interval reduces the consumption of engine oils in automobiles is anticipated to restrain the growth of the market. The increasing need for improvement in the fuel economy is expected to provide wide opportunities to the viscosity index improvers market in the future.
Geographically, Asia-Pacific has the largest market share of the viscosity index improvers market due to increasing demand from the automobile sector in developing economies such as China and India. Manufacturers tend to prepare their products with high-end safety and superior quality to the customers in the global market. This is projected to act as a catalyst for the growth of the global viscosity index improvers market in the future.
The report on global viscosity index improvers market covers segments such as type, and end-user industry. On the basis of type, the sub-markets include polymethacrylate (PMA), olefin copolymer (OCP), polyisobutylene (PIB), and other types. On the basis of end-user industry, the sub-markets include automotive lubricants, industrial lubricants, and other end-user industries.
The report provides profiles of the companies in the market such as Afton Chemical Corporation, Infineum International Limited, Sanyo Chemical Industries, Ltd., Lubrizol Corporation, Chevron Oronite Company LLC, Nanjing Runyou Chemical industry Additive Co., Ltd., Shenyang Great Wall Lubricating Oil Manufacturing Co., Ltd., Evonik Industries AG, and Chevron Oronite SA.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of viscosity index improvers market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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