The viscosity Index Market size for Improvers was estimated to be USD 118.99 million in 2020. It is expected to grow to USD 196.16 Million by 2028. This will grow at an average rate of 6.42 percent from 2021 until 2028.
Lubricants are utilized to decrease wear and tear, thus extending the equipment’s life. Because of this, there’s a surge in the need for oils, which increases the demand for the Viscosity Index improvers market. This Global Viscosity Index Improvers Market report offers a comprehensive analysis of the industry. It provides an in-depth review of the most important segments and drivers, trends, restraints and the competitive landscape, and elements that play an essential role in the scene.
Global Viscosity Index Improvers Market Definition
Viscosity refers to the internal resistance of the molecules in fluids to flow. Viscosity index (VI) improvers include chemical substances that are typically added to lubricants to prevent the idea, i.e., decreasing the viscosity of the fat as the rise in temperature to ensure consistency of performance with different temperatures. VI improvers are made up of polymer molecules that expand as temperatures rise. As the molecules stretch and grow, the friction between the fluid molecules increases and causes the fluid to flow at a lower rate, eventually increasing the viscosity.
Global Viscosity Index Improvers Market Overview
The report’s market outlook section concentrates on fundamental aspects of the market that include drivers, restraints, opportunities, and challenges that confront the business. Conditions and drivers are integral, while opportunities and challenges are external to the market.
Lubricants help reduce friction in two parts by applying a film to prevent direct contact between the moving parts and decrease the losses in the clash, improving the parts’ longevity. However, due to the connection between moving parts, particularly at high speed, the temperature rises, increasing the fluid’s temperatures as it is introduced. This results in thinning of the lubricant, which could result in the vaporization or loss of characteristics of the liquid. Different additives such as Viscosity Index Enhancers are added to increase the lubricants’ effectiveness and consistency in varying temperatures to ensure that the oil is efficient in higher temperatures. Fats are used extensively in industrial and automobile applications. The quality of lubricant is a factor that determines the longevity of a part of machinery that is used in industries. Because of the significant capital investment that companies invest in the machinery they are continuously operating, it becomes essential to take preventive actions, corrective maintenance, and breakdown repair maintenance.
Lubricants are utilized to decrease wear and tear and extend the life of machinery. This is why there is an increase in the need for fats, which stimulates the demand for Viscosity Index Improvers Market. Automobiles make use of brake fluids, engine lubricants, and transmission oil. And require frequent refills to ensure the smooth operation and longevity of the car. Because of this, there’s a surge in need for premium fluids that operate at different temperatures, which aligns with the demand for VI enhancers and fuels the expansion in the marketplace.
MarkWide Research narrows down the available information using primary sources to confirm the data and utilize it to compile a full-featured Market research report. The report estimates qualitative and quantitative aspects of market components that are important to the consumer. The Global Viscosity Index Improvers Market is mainly divided into sub-segments that can offer detailed information about the latest developments in the market.
Global Viscosity Index Improvers Market Segmentation Analysis
The Viscosity Index Global Enhancers Market is classified according to the type of product, its Application, and Geographical.
Viscosity Index Improvers Market, By Application
- Automotive Lubricants
- Industrial Lubricants
Based on Application, The market is divided into Automotive Lubricants and Industrial Lubricants.
Viscosity Index Improvers Market, By Product Type
- Olefin Copolymer VI Improver (OCP)
- Polymethacrylate Viscosity Index Improver (PMA)
Based on the product type, the market is split into Olefin Copolymer VI Improvement (OCP), Polymethacrylate Viscosity Index Enhancer (PMA), and others.
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
Based on Geography, The Global Viscosity index Enhancers Market is divided into North America, Europe, Asia Pacific, and the Rest of the World.
The Global Viscosity Index Improvers Market study report will provide a valuable insight with an emphasis on the global market, including some of the major players such as Lubrizol, Amtecol, Oronite, Infineum, Afton, BASF, Evonik, Sanyo Chemical, Shengyang Greatwall, ENI, Shanghai High-Lube Additives, Amtecol, BRB International BV, Chevron, Infineum, PetroChina International (Canada) Trading Ltd., YASHIKE LAIEN,
Our market analysis also includes separate sections devoted to major players, where our analysts offer an analysis of the financials of all major players, its benchmarking of their products, and SWOT analyses. The section on competitive landscape includes development strategies for key players and market share and ranking analysis for the mentioned players worldwide.
Partnerships, Collaborations, and Agreements
The month of August will be 2020. Lubrizol Advanced Materials, Inc. The pioneers and most prominent manufacturer of CPVC compound worldwide, as well as Prince Pipes and Fittings Ltd., have signed a FlowGuard CPVC Processor contract to manufacture and sell Prince FlowGuard Plus CPVC (Chlorinated polyvinyl chloride) fittings and pipes in India. FlowGuard Plus products will be available in India starting in September by Prince Pipes and Fittings Ltd.
Motul, a supplier of automotive lubricants, entered into an agreement with Suzuki GB PLC in December 2017. Due to this agreement, Suzuki is officially recommending Motul oil for their automotive motorcycle, marine, and products.
Mergers and Acquisitions
Evonik Industries launched a new business line of oil additives in March of 2019. The methacrylate monomers division of the company was merged into the existing business line. The two lines of business will be joined to create an oil additives business line in the Evonik Industries resource efficiency sector. This plan aims to boost the company’s production capacity and technological efficiency.
Evonik Industries acquired Air Products and Chemicals Inc.s specialty additives division in January 2017. The acquisition will be integrated within the divisions of business nutrition and health and efficiency of resources. This acquisition enhances the company’s position in the market for specialty additives.
Product Launches and Product Expansions
Orontes add-on plant in Gonfreville, France, began mixing PARATONE viscosity enhancer concentrates in 2018.
Lubrizol Corporation announced in October 2018 that it was planning to invest over $25 million in its Calvert City, Kentucky, production site to meet growing demand from customers. The investment is added to the site’s recent US$10 million expansion to raise the company’s safety standards and build an internationally recognized quality laboratory.
|UNIT||Value (USD Million)|
|KEY COMPANIES PROFILED||Lubrizol, Oronite, Infineum, ENI, Afton, Amtecol, BRB International BV, BASF, Evonik ,Sanyo Chemical, Shengyang Greatwall, Shanghai High-Lube Additives, Chevron, YASHIKE LAIEN, PetroChina International,|
|SEGMENTS COVERED||By Application|
By Product Type
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