PRESS RELEASE
Posted on April 3, 2023
The ‘Global Viscosity Index Improvement Market Size, Share, Analysis, Growth, Expert Market Research’s report and forecast 2023-2028 offers a comprehensive view of the global viscosity index improver market, evaluating the market based on its segments such as product type, application, and major regions .
The report studies the latest market updates along with their impact on the entire market. It also analyzes market demand, along with its price and demand indicators. The report also tracks the market based on SWOT models and Porter’s five forces.
Viscosity Index Enhancer Market Size, Trends, Industry Report, Key Player, Major Segments and Forecast
Highlights of the report include:
Market Overview (2018-2028)
• CAGR forecast (2023-2028): 4.3%
Rapid urbanization coupled with increasing industrialization is expected to drive the growth of the viscosity index improver market during the forecast period. This is due to the increasing demand for industrial lubricants for industrial machinery, which is expected to positively influence the growth of the market in the coming years.
Get a free sample report with the table of contents – https://www.expertmarketresearch.com/reports/viscosity-index-improver-market/requestsample
The largest consumer of lubricants is the automobile industry, and with the booming automobile industry, the market demand for viscosity index improvers is likely to fuel in the coming years. With the dramatic changes in the temperatures of automobile engines during driving, the demand for automobile lubricants is expected to increase, which is expected to aid the growth of the market worldwide.
Going further, increasing application of viscosity index improvers for automotive applications is likely to increase the demand for viscosity index improvers market in the coming time frame. The expansion and growth of numerous end-users, especially in developing economies, along with increasing demand for fuel economy development is expected to propel the growth of the market.
In addition, growth in manufacturing activities coupled with an increase in demand for chemicals to improve the service life of machinery is expected to fuel the market growth rate in the coming years.
Viscosity Index improves industry definition and major segments
A viscosity index improver is a complex polymer additive that develops at high temperatures to condense the lubricant as well as ensure a more consistent and stable viscosity. This ensures that the lubricant fully protects the equipment at both low and high temperatures. It also allows the use of multi-grade oils which eliminates the requirement for seasonal oil changes.
Read the full report with table of contents – https://www.expertmarketresearch.com/reports/viscosity-index-improver-market
By product type, the market is divided into:
• Polymethyl acrylate (PMA)
• Ethylene Propylene Copolymer (OCP)
• Hydrostyrene diene copolymer (HSD)
• Polyisobutylene (PIB)
• Others
By applications, the viscosity index improvers market is segmented into:
• Automotive lubricants
• Industrial lubricants
By region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa
Viscosity Index Enhancer Market Trends
Viscosity index improvers help improve the viscosity performance of a lubricant, especially motor oils that are exposed to a variety of operating temperatures. Growing demand for fuel-efficient vehicles, along with increasing automobile sales and government policies and regulations encouraging environmental sustainability, are expected to boost the market.
The global viscosity index improver market is expected to witness significant growth during the forecast period due to increasing adoption of electric vehicles and increased investment in research and development activities. With the increasing adoption of electric vehicles, manufacturers are likely to require fluids that meet the innovative technical needs of electric powertrains, increasing market demand for viscosity index improvers.
Geographically, the Asia Pacific region is expected to gain momentum in the viscosity index improver market share due to rising per capita disposable income coupled with increasing economic growth in developing economies. development like China and India.
China has significant growth in the viscosity index improver market due to high production and consumption of viscosity index improvers by the country’s electric vehicle market. The large fleet of on-road vehicles, along with the growing automobile industry in emerging economies such as China and India, is expected to support the growth of the market in the coming years.
Key market players
Major Players of the Global Viscosity Index Improver Market Report are:
- Infineum International Limited
- Chevron Oronite
- The Lubrizol Corporation
- Sanyo Chemical Industries
- LANXESS AG
- others
The report covers market shares, capacities, plant conversions, expansions, investments, and mergers and acquisitions, among other latest developments by these market players.
Read more reports:
Nitrocellulose Market: https://www.expertmarketresearch.com/reports/nitrocellulose-market
North America Rainwater Harvesting Market: https://www.expertmarketresearch.com/reports/north-america-rainwater-harvesting-market
Market of nutraceutical products: https://www.expertmarketresearch.com/reports/nutraceutical-products-market
Passenger Ferry Market: https://www.expertmarketresearch.com/reports/passenger-ferries-market
About us:
Market Research Expert (EMR) is a leading market research company with clients worldwide. Through comprehensive data collection and skillful data analysis and interpretation, the company provides its clients with broad, up-to-date and actionable market intelligence that enables them to make informed and intelligent decisions and strengthen their market position Clientele ranges from Fortune 1000 companies to small and medium-sized businesses.
EMR customizes syndicated reports according to customer requirements and expectations. The company is active in more than 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture and pharmaceuticals, among others.
Finished 3000 EMR consultants and over 100 analysts work hard to ensure clients receive only the most up-to-date, relevant, accurate and actionable industry intelligence so they can formulate informed, effective and intelligent business strategies and secure their market leadership.
Contact with the media:
Company Name: Claight Corporation
Contact: James Williams, Corporate Sales Specialist – USA
Toll free number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gloud Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
