Global Lubricant Viscosity Grade Improvers Market 2017-2021

This industry research report identifies Chevron Oronite, Evonik, Infineum, Lubrizol, and NewMarket as the key vendors in the global lubricant viscosity grade improvers market. This industry research report also presents a comprehensive analysis of the market by chemical class, by end user, by viscosity grade, and by geography.

Overview of the global lubricant viscosity grade improvers market

Technavio's market study identifies the demand for lubricants with enhanced fuel economy to be one of the primary growth factors for the lubricant viscosity grade improvers market. Customers are increasingly demanding cars that are highly fuel-efficient and cost-effective. Since, the performance and lifespan of the cars and engines is decided by the type of lubricant used and its viscosity, automotive manufacturers are increasingly demanding lubricant oils that have low viscosity grades. This in turn, will compel lubricant oil suppliers to procure viscosity modifiers and grade improvers, fueling market growth. Our market analysts estimate that by volume, this market will grow at a CAGR of almost 3% by 2021.

Viscosity grade improvers are used extensively in industrial gear oils that belong to the industrial lubricant market. Countries in the APAC and Europe are witnessing huge investments in the manufacturing and construction sectors. Additionally, developing countries such as Brazil, Russia, India, and South Africa are also witnessing rapid industrialization. This will in turn, augment the growth prospects of the industrial gear oil market in the coming years, which according to our market research analysts will be one of the key trends that will gain traction in the lubricant viscosity grade improvers market.

Competitive landscape and key vendors

The lubricant viscosity grade improvers market is dominated by a few key international and regional players competing based on the price, performance, and quality of the products. Competition among the players is intense and is influenced by factors such as distribution network, product performance and quality, and price. The vendors focus extensively on expanding their geographical presence and product portfolio to attain a competitive advantage over the other players in the viscosity index improvers market.

The leading vendors in the market are -

• Chevron Oronite
• Evonik
• Infineum            
• Lubrizol
• NewMarket

The other prominent vendors in the market are AMTECOL, Croda International, JINZHOU KANGTAI LUBRICANT ADDITIVES, LANXESS, MidContinental Chemical, Nanjing Runyou Chemical Industry Additive, Sanyo Chemical Industries, and Shenyang Great Wall Lubricating Oil Manufacturing.

Segmentation by end user and analysis of the lubricant viscosity grade improvers market

• Passenger car motor oils (PCMOs)
• Heavy-duty motor oils (HDMOs)
• Hydraulic fluids
• Gear oils

Viscosity grade improvers are used in PCMOs to provide high fuel efficiency, reduce emissions, frictions, reduce the chances of damage and wear, and influence the effective functioning of the lubricant used in the engine. The growth in sales of passenger cars and the introduction of new taxation rates and subsidies, will contribute to the growth of the viscosity index improvers market in this end user segment.

Segmentation by viscosity grade and analysis of the lubricant viscosity grade improvers market

• Multigrade oils
• Monograde oils

End-users can use engines lubricated with multigrade oils at a wide range of temperatures and for an extended period of time. Multigrade oils display the properties of two viscosity grades as they contain a mixture of viscosity grade improvers mixed in low viscosity oil.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global lubricant viscosity grade improvers market?
• What are the key market trends impacting the growth of the global lubricant viscosity grade improvers market?
• What are the challenges to market growth?
• Who are the key vendors in the global lubricant viscosity grade improvers market?
• What are the market opportunities and threats faced by the vendors in the global lubricant viscosity grade improvers market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global lubricant viscosity grade improvers market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming market research report on the lubricant viscosity improvers market is an integral part of Technavio's chemicals and materials portfolio and offers key insights into the market space for specialty chemicals. Technavio's insightful market research reports also offer insights on the market size, forecast, trends, and industry analysis to help clients build effective growth strategies.

Additionally, by implementing an extensive research approach of quantitative and qualitative data collection methods and assessing the changing demand-supply landscape of the speciality chemicals sector, the upcoming market research report on the lubricant viscosity improvers market offers insights into the key market drivers, trends, and eminent challenges that will influence the growth of the key suppliers in this market space. This upcoming market research report on the lubricant viscosity improvers market also covers vendors like Afton, Chevron Oronite, Evonik, and Lubrizol.

This market research report on the lubricant viscosity improvers market also takes into account the growth of related market like bromine market, which is anticipated to post an impressive CAGR of around 6% during the forecast period. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this market report on the lubricant viscosity improvers market also covers geographies like APAC, North America, Europe, and ROW.

The upcoming industry report on the lubricant viscosity improvers market also offers insights into fast-growing segments within the chemicals and materials industry, including sectors like metals and minerals and industrial gases. Additionally, the industry report also presents insights into the changing competitive landscape and gives clients a complete view of the future direction of the chemicals and materials industry.

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