Enjoy complimentary customisation on priority with our Enterprise License!
The polymethacrylate in VII and pour point depressant (PPD) market size is estimated to grow at a CAGR of 3.68% between 2022 and 2027. The market size is forecast to increase by USD 426.03 million. The growth of the market depends on several factors, including the increasing demand for high-performance lubricants, the growing automotive industry, and the growing industrialization and urbanization.
This polymethacrylate in VII and PPD market report extensively covers market segmentation by grade type (multi-grade and mono-grade), end-user (PCMO, HDMO, industrial hydraulic oils, and automotive gear oils), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The increasing demand for high-performance lubricants is notably driving the market growth, although factors such as increasing environmental concerns may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for high-performance lubricants is the key factor driving the growth of the global polymethacrylate in VII and pour point depressant PPD market. High-performance lubricants are used in a wide variety of applications, including automotive engines, industrial machinery, and aerospace. These lubricants are designed to operate under extreme conditions such as high temperature, high pressure, and high shear. Polymethacrylate-based additives are used in high-performance lubricant formulations to improve viscosity index and pour point properties. The viscosity index is a measure of a lubricant's viscosity change with a change in temperature. A high viscosity index means that the lubricant maintains its viscosity over a wide temperature range. This is important to ensure efficient lubrication under changing operating conditions. The pour point is the temperature at which a lubricant loses its fluidity and becomes solid.
Polymethacrylate-based additives can lower the pour point, allowing the lubricant to remain fluid even at lower temperatures. The demand for high-performance lubricants is driven by several factors, including the increasing focus on energy efficiency, reducing emissions, and extending the life of equipment and machinery. High-performance lubricants can help improve the efficiency of engines and machinery, thus reducing the amount of energy that they require to operate. This, in turn, can lead to lower emissions and a reduced impact on the environment. High-performance lubricants can also help extend the life of different types of equipment by reducing wear and tear. Thus, the increasing demand for high-performance lubricants is expected to continue driving the growth of the global polymethacrylate market in VII and PPD during the forecast period.
Increasing demand for fuel-efficient vehicles is the primary trend in the global polymethacrylate in VII and pour point depressant PPD market growth. Polymethacrylates are used as viscosity index improvers (VII) in lubricants for automotive engines and can help improve fuel efficiency in automobiles by reducing friction and wear in the engine. While traditional internal combustion engine (ICE)-based vehicles still dominate the global automotive market, there is an increasing demand for electric vehicles (EVs), which also rely on lubricants containing polymethacrylates.
Additionally, the automotive industry is growing rapidly in emerging markets such as China and India, driven by factors such as rising incomes and urbanization. As these markets mature, the demand for more fuel-efficient vehicles is expected to increase, driving demand for polymethacrylates. Thus, increasing demand for fuel-efficient vehicles is one of the major trends that is expected to drive the growth of the global polymethacrylate market in VII and PPD during the forecast period.
Increasing environmental concerns are a major challenge to the growth of the global polymethacrylate in VII and pour point depressant (PPD) market. The production and use of polymethacrylates can have a significantly detrimental impact on the environment, including in terms of greenhouse gas emissions, water pollution, and waste generation. The production of polymethacrylate requires significant energy inputs, which can lead to greenhouse gas emissions. According to a report by the European Chemicals Agency, the production of polymethyl methacrylate (PMMA) generates approximately 4.5-5.5 kg of carbon dioxide equivalent per kg of PMMA produced. The production of polymethacrylate can also contribute to water pollution. Polymethacrylate production generates wastewater that can contain pollutants, such as organic solvents, heavy metals, and other contaminants.
According to a study conducted by the US Environmental Protection Agency (EPA), the discharge of pollutants from polymethacrylate production plants can negatively impact aquatic ecosystems. The disposal of polymethacrylate products can also contribute to waste generation. Polymethacrylate products can take hundreds of years to decompose in landfills, leading to long-term waste accumulation. According to a report by the European Chemicals Agency, PMMA waste can represent up to 1% of the total municipal solid waste generated in the European Union (EU). Thus, increasing environmental concerns can become a major challenge for the growth of the global polymethacrylate market in VII and PPD during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Polymethacrylate in VII and PPD Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Additive-Chemie Luers GmbH and Co. KG: The company offers polymethacrylate in VII and PPD such as ACL polymethacrylate. Also, the company manufactures additives for metalworking fluids, industrial lubricants, cleaners, and specialties.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the multi-grade segment will be significant during the forecast period. Multi-grade lubricants are those that have been engineered to maintain their viscosity across a wide range of operating temperatures. They are designed to provide the best possible lubrication in engines and machinery that are subjected to varying temperatures, such as automotive engines and transmission systems.
Get a glance at the market contribution of various segments View the PDF Sample
The multi-grade segment was valued at USD 1,409.48 million in 2017 and continued to grow until 2021. Multi-grade lubricants are essential for modern engines and machinery that require consistent and reliable lubrication across a wide range of temperatures. The use of viscosity index improvers like polymethacrylate helps achieve this performance target. Thus, the increasing use of multi-grade lubricants is expected to drive the growth of the multi-grade segment of the global polymethacrylate market in VII and PPD during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is experiencing significant growth in demand for polymethacrylates due to a variety of economic, demographic, and environmental factors. One major driver of this growth is the increasing demand for fuel-efficient vehicles in the region. As disposable income increases and vehicular emission regulations become more stringent, consumers in APAC are increasingly looking for vehicles that offer better fuel economy and performance.
Polymethacrylates are used in the production of viscosity index improvers (VII) and pour point depressants (PPD), which are important components in automotive lubricants that improve the fuel economy and performance of vehicles. As a result, the demand for polymethacrylates in the automotive sector is expected to grow at a significant rate during the forecast period.
The outbreak of COVID-19 adversely affected several countries in APAC. However, the resumption of normal business activities and the implementation of various disease containment measures like mass COVID-19 vaccination drives resulted in the easing of lockdown restrictions in several APAC countries and enabled the resumption of production operations and supply chains, which enabled the polymethacrylate market in VII and PPD in the region to recover in late 2021. Additionally, the operations in end-user industries such as automotive also resumed, which increased the demand for polymethacrylate-based VII and PPD in the first half of 2021. These factors are expected to drive the growth of the regional polymethacrylate market in VII and PPD during the forecast period.
The polymethacrylate in VII and PPD market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global polymethacrylate market in VII and PPD as a part of the global commodity chemicals market within the global chemicals market. The global commodity chemicals market covers companies that primarily produce industrial and basic chemicals, including, but not limited to, plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Polymethacrylate in VII And PPD Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.68% |
Market growth 2023-2027 |
USD 426.03 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.2 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and industry Risks |
Key companies profiled |
Additive-Chemie Luers GmbH and Co. KG, American Hitech Petroleum and Chemicals inc., DANA Lubricants Factory LLC, Evonik industries AG, Functional Products inc., infineum international Ltd., Jinzhou Kangtai Lubricant Additives Co. Ltd., Jinzhou Runda Chemical Co. Ltd., Kusa Chemicals Pvt Ltd., Mitsubishi Chemical Group Corp., NewMarket Corp., Nouryon Chemicals Holding BV, RX Marine international, Ter Group, The Lubrizol Corp., and Zhengzhou Chorus Lubricant Additive Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Grade Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.