Viscosity Index Improver Market Update Report 2024| Industry Trends, Demand, Leading Companies and Segmentation till 2031/ Mitsui Chemicals Inc., Infineum International Ltd., Chevron Oronite Company LLC, BASF SE, and The Lubrizol Corp.

Global viscosity index improver market is anticipated to grow at a considerable CAGR of 6.3% during the forecast period (2024-2031).This growth is supported by the growing usage of hydraulic fluid for lubricating heavy-load machinery. Manufacturers of industrial oils and greases are focusing on the automotive and metalworking industries as potential sources of income. This is because of their products' exceptional electrical resistance, corrosion resistance, and longevity. Increased machine usage as a result of this trend is driving up demand for viscosity improvers.

Furthermore, to improve vehicle performance and efficiency in light-duty sectors, manufacturers in the oil and lubricant industry are creating engine oils containing nanoparticles to lessen the damage caused by cold starts. To increase engine thermal oxidation stability, automakers are creating hydrogenated styrene-isoprene (HSD) copolymers. 

In March 2023, ABB completed its lube oil blending plant extension for Shell Indonesia. The Marunda Lubricants Oil Blending Plant (LOBP) is a project that employed leading technology and smart manufacturing concepts. Building upon a longstanding relationship between ABB and Shell Indonesia dating back to 2014, ABB delivered the plant extension project (Marunda 2.0) to double its production capacity.

In October 2022, LCY showcased thermoplastic elastomer portfolio with an advanced elastomer portfolio and C.A.R.E. expertise. The company demonstrated how it accelerates material science innovation for a sustainable future. With manufacturing bases in Taiwan, China, and the US, as well as a wide distribution network of warehousing facilities across Europe, LCY joins hands with customers globally to create the best-in-class material solutions with its in-depth knowledge in material functionality, proprietary hydrogenation process, customized quality products, and trusted local service support.

In July 2022, Chevron Phillips Chemical expanded the low-viscosity PAO unit in Belgium to address growing global demand. PAOs are specially designed chemicals made from alpha olefins. They are used in many synthetic products such as lubricants, greases, and fluids and have emerged as essential components in applications including automotive, industrial, cosmetics, technology, and military use.

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Market Coverage

The market number available for - 2023-2031
Base year- 2023
Forecast period- 2024-2031

Segment Covered- 

By Type
By Application

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- Mitsui Chemicals Inc., Infineum International Ltd., Chevron Oronite Company LLC, BASF SE, and The Lubrizol Corp.,among others.

Viscosity Index Improver Market Report Segment

By Type

Polymethacrylate (PMA)
Ethylene propylene copolymer (OCP)
Hydrostyrene Diene Copolymer (HSD)
Polyisobutylene (PIB)
Others

By Application

Vehicle Lubricants
Industrial Lubricants
Transmission Fluids

A full Report of Viscosity Index Improver Market is Available @  https://www.omrglobal.com/industry-reports/viscosity-index-improver-market

Viscosity Index Improver Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles

Asian Oil Company
Afton Chemical Corp.
BASF SE
BPT Chemicals
Chevron Oronite Company LLC
Croda International Plc
Evonik Industries AG
Jilin Xingyun Chemical Co., Ltd.
Jinzhou Kangtai Lubricant Additives Co., Ltd.
Lanxess AG
Lubrizol Corporation
Nanjing Runyou Chemical Industry Additive Co., Ltd.
Petronas
Sanyo Chemical Industries
Shenyang Great Wall Lubricating Oil Manufacturing Co., Ltd.
The Lubrizol Corp.
Versalis SpA

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We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.

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