Dublin, Jan. 05, 2022 (GLOBE NEWSWIRE) -- The "Global Viscosity Index Improvers Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.
This report on the global viscosity index improvers market estimates this industry to develop with a CAGR of 3.01% in the forecasting period from 2022 to 2028.
The rise in the demand for lubricants is the major driving factor of this market. Along with this, the rise in automotive production in the regions of Europe and the Asia-Pacific is also contributing significantly to market growth. On the contrary, the longer drain intervals needed for high-grade lubricants and cost constraints are hindering the market's development. However, the opportunities for industrial growth in the middle east and Africa create an overall positive outlook for the viscosity index improvers market.
Regional Outlook
The global market for viscosity index improvers covers the regions of North America, the Middle East and Africa, Latin America, the Asia-Pacific, and Europe.
The market in the Asia-Pacific is expected to witness the fastest growth in the coming period. Factors such as the high growth in the base oil market, rapid rate of industrialization, and the burgeoning population & consequent urbanization, along with high growth in major end-user industries such as chemicals, textiles, metalworking, and food processing, can be attributed to the growth of this industry. Further, the region presents a number of lucrative opportunities to companies that innovate, develop niche applications, and introduce novel products with enhanced characteristics.
Competitive Outlook
Afton Chemical Corporation, Chevron Oronite Company LLC, Shanghai Minglan Chemical Co Ltd, Infineum International Limited, Croda International Plc, Evonik Industries AG, Exxon Mobil Corporation, ENI SpA, Lubrizol Corporation, BPT Chemical Co Ltd, BASF SE, BRB International BV, Asian Oil Company, Jilin Xingyun Chemical Co Ltd, Sanyo Chemical Industries Ltd, and Jinzhou Kangtai Lubricant Additives Co Ltd are some of the established names present in the viscosity index improvers market.
Founded in 1870, Exxon Mobil Corporation is a globally renowned, integrated oil & gas company. It is engaged in the exploration and production of natural gas and crude oil; manufacturing of petroleum products; and the transportation and sale of natural gas, crude oil, and petroleum products. The company is also engaged in manufacturing and marketing commodity petrochemicals, which include polypropylene plastics, polyethylene, aromatics, olefins, and a wide range of specialty products. Exxon Mobil markets its products under brand names like Exxon, Esso, Mobil, and Mobil 1. The company has a business presence across North America, Europe, the Middle East, Africa, Latin America, and the Asia-Pacific, with a strong workforce of more than 72,000 employees.
Key Topics Covered:
1. Global Viscosity Index Improvers Market - Summary
2. Industry Outlook
2.1. Key Insights
2.1.1. Emergence of the Asia-Pacific as a Manufacturing Hub
2.1.2. Increasing Consumption of Engine Oils
2.2. Key Market Strategies
2.2.1. Acquisitions
2.2.2. Product Developments
2.2.3. Contracts & Agreements
2.2.4. Investments & Expansions
2.3. Impact of Covid-19 on the Viscosity Index Improvers Industry
2.4. Porter's Five Forces Analysis
2.5. Market Attractiveness Index
2.6. Vendor Scorecard
2.7. Market Drivers
2.7.1. Rise in the Demand for Lubricants
2.7.2. Automotive Production Growth in the Asia-Pacific and Europe
2.8. Market Challenges
2.8.1. Longer Drain Intervals for High-Grade Lubricants
2.8.2. Cost Constraints
2.9. Market Opportunities
2.9.1. Industrial Growth in the Middle East and Africa
3. Global Viscosity Index Improvers Market Outlook - by Product Type
3.1. Polymethacrylate
3.2. Olefin Copolymer
3.3. Polyisobutylene
3.4. Other Product Type
4. Global Viscosity Index Improvers Market Outlook - by End-User
4.1. Automotive
4.1.1. Passenger Vehicles
4.1.2. Heavy-Duty Vehicles
4.1.3. Other Vehicles
4.2. Industrial
4.3. Other End-Users
5. Global Viscosity Index Improvers Market - Regional Outlook
6. Competitive Landscape
6.1. Afton Chemical Corporation
6.2. Basf Se
6.3. Chevron Oronite Company LLC
6.4. Evonik Industries AG
6.5. Bpt Chemical Co Ltd
6.6. Lubrizol Corporation
6.7. Infineum International Limited
6.8. Sanyo Chemical Industries Ltd
6.9. Croda International plc
6.10. Brb International Bv
6.11. Jinzhou Kangtai Lubricant Additives Co Ltd
6.12. Shanghai Minglan Chemical Co Ltd
6.13. Jilin Xingyun Chemical Co Ltd
6.14. Exxon Mobil Corporation
6.15. Eni Spa
6.16. Asian Oil Company
7. Research Methodology & Scope
For more information about this report visit https://www.researchandmarkets.com/r/bhrxfx
