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Viscosity Index Improvers Market Forecast Hit by Coronavirus Outbreak, Downside Risks Continue to Escalate

Introduction: Viscosity Index Improvers Market

Viscosity is considered to be a key factor for the measuring of quality of a lubricant. Viscosity is the quantity for expressing the magnitude of the internal frication of the fluid whereas, viscosity index determines the extent of viscosity of the hydraulic fluid which can change with the temperature as the viscosity index improves there may small change in fluid viscosity for the given temperature. Viscosity Index Improvers enhance lubrication under high stress which are an integral part of fuel additives for smooth functioning of automotive as well as non-automotive engines.  Lubricant as well as Additive Chemical Manufacturers have been associated with the development of the product for automotive and industrial end users which are also termed as viscosity modifiers.

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Viscosity index improvers are the polymers additives taken from polyalkyl methyl acrylates, poly iso butylenes, olefin co-polymers, etc. which may reduce the impact of increasing temperature on viscosity of lubricants. Lubricant viscosity index improvers help the lubricant blenders to achieve the required significant properties, such as reduction of lubrication viscosity tendency to change when it subjected to temperature fluctuation to protect equipment at extreme temperature. Viscosity index improvers reduce the dependency of the lubrication viscosity in order to change increase or decrease of temperature. Viscosity index improvers belongs to two key properties which are shear stability and thickening efficiency. In order to achieve excellent fuel efficiency, durability and performance all these can be achieved by proper selection of viscosity index improvers. The application of viscosity index improvers achieves the maximum efficiency, performs better even at low temperature and protect the equipment from harmful wear. Environmental concern is expected to play key role in the viscosity index improvers market. Additionally, the reduction of some elements such as phosphorus, sulfur, chlorine and other metals proceeded at a fast rate over the last couple of years.

Market Dynamics: Viscosity Index Improvers Market

Increasing adoption of technology in viscosity index improvers market is expected to capture the maximum market share in terms of revenue in between the forecast period. Significant advantage associated with use of viscosity index improvers and increasing demand from the end use industries are the positive key drivers which is expected to propel the overall demand of the viscosity index improvers market. One of the major key factor is expected to hamper the market growth is relatively high cost of the raw materials in the global market. Increasing demand of green products and fully automated system are the benchmark trends for the viscosity index improvers market in the coming future.

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In terms of classification, polymethylacrylate is expected to dominate the global market with more than half of the market share in terms of value and volume. Increasing industrial application is expected to cater the market growth in the forecast period. On the basis of geographical region, Western Europe and North America are expected to gain maximum share in terms of revenue in viscosity index improvers market globally. Middle East and Africa is expected to grow with sluggish growth in viscosity index improvers market.

Market Segmentation: Viscosity Index Improvers Market

Viscosity index improvers market segmented on the basis of classification and application.

On the basis of classification viscosity index improver segmented as

  • Polymethacrylate Viscosity Index Improver
  • Olefin Copolymer viscosity improvers
  • Others

On the basis of application viscosity index improvers market segmented as

  • Industrial Lubricants
  • Vehicle Lubricants
  • Others

Regional Outlook: Viscosity Index Improvers Market

Globally, Western Europe and North America are anticipated to drive the growth with healthy CAGR over the forecast period followed by Asia Pacific Middle East and Africa.  Developing nations, such as BRICS (Brazil, Russia, India, China and South Africa) will contribute significantly to the global viscosity index improvers market in between the forecast period. Manufacturers tend to equip their end products with high-end safety and better quality to the customers in the global market. This is anticipated to act as a catalyst for the growth of the overall viscosity index improvers market over the forecast period.

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Some of the key players in the viscosity index improvers market are

  • Lubrizol Corporation
  • Shengyang greatwall
  • Infineum
  • Oronite
  • Nanjing Runyou
  • Evonik
  • Sanyo Chemical
  • Afton
  • Nanjing Runyou

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint