New York, According to a new market research report published by Global Insight Services “Viscosity Index Improvers Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Viscosity index improvers (VII) are a class of additives used to modify the viscosity-temperature characteristics of lubricating oils. By reducing the rate of change of viscosity with temperature, VII’s enable oils to maintain their viscosity over a wider temperature range. This provides better protection for metal surfaces, especially during start-up and high-temperature operations.
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Key Trends
Some of the key trends in Viscosity Index Improvers technology include the development of more environmentally friendly products, the use of nanotechnology to improve product performance, and the focus on developing products that can be used in a variety of applications.
One of the biggest trends in Viscosity Index Improvers technology is the development of more environmentally friendly products. This is being driven by stricter regulations on the use of chemicals, as well as the growing awareness of the impact of chemicals on the environment.
Another trend is the use of nanotechnology to improve product performance.
Finally, there is a trend towards developing products that can be used in a variety of applications.
Key Drivers
The key drivers of the Viscosity Index Improvers market are the rising demand for lubricants from the automotive and manufacturing industries, and the need for high-performance products.
The automotive industry is the largest consumer of lubricants, and the demand for Viscosity Index Improvers is expected to grow in this sector.
The manufacturing industry is another major consumer of lubricants, and the demand for Viscosity Index Improvers is expected to grow in this sector as well.
The rising demand for Viscosity Index Improvers from the automotive and manufacturing industries is expected to drive the growth of the Viscosity Index Improvers market.
Market Segments
The viscosity index improvers market is segmented by type, application, end-user, and region. By type, the market is classified into polymethacrylate, ethylene-propylene copolymer, and others. Based on application, it is bifurcated into vehicle lubricants, industrial lubricants, and transmission fluids. On the basis of end-user, it is divided into automotive, off-road vehicles, industrial machinery, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The global viscosity index improvers market includes players such as The Lubrizol Corporation, Infineum International Limited, Chevron Oronite Company LLC, Evonik Industries AG, Afton Chemical Corporation, BASF SE, Sanyo Chemical Industries, Croda International Plc, Lanxess AG, Mitsui Chemicals Inc, and others.
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Reasons to buy Viscosity Index Improvers Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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