Lubricant Viscosity Grade Improvers Market size is set to grow by USD 719.65 million from 2022 to 2027, Increasing demand from end-user industries boosts the market - Technavio

NEW YORK, June 5, 2023 /PRNewswire/ -- The global lubricant viscosity grade improvers market size is estimated to grow by USD 719.65 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 3.32% during the forecast period. APAC is estimated to account for 43% of the global market growth during the forecast period. The region witnesses a high demand for lubricants from heavy engineering, steel manufacturing, mining and refining, and plastics and polymer industries. For instance, in May 2021, Vedanta Ltd. announced that it is planning to invest USD 1.34 billion to set up an aluminum park in Odisha, India. Furthermore, the growing automotive industry drives regional growth. Hence, such investments are expected to increase the demand for lubricants, thereby propelling the growth of the regional lubricant viscosity grade improvers market during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Lubricant Viscosity Grade Improvers Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (vehicle lubricants and industrial lubricants), product (polymethacrylate (PMA), hydrostyrene diene copolymer (HSD), and polyisobutylene (PIB), and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). 

• The market share growth by the vehicle lubricants segment will be significant for overall market growth during the forecast period. The growth can be attributed to the rising production of automobiles, coupled with their high demand, mainly in developing countries. These lubricants are used in oils such as engine oils, hydraulic oils, and shock absorber oils. Lubricants reduce friction and wear, improving fuel efficiency and the life of automotive components. Furthermore, lubrication also helps prevent parts from seizing and causing severe damage and lubricants provide high resistance to oil degradation, reduce evaporation and increase fuel efficiency. Hence, the demand for high-performance lubricants in the automotive industry is overgrowing as the shift to fuel-efficient cars and motorcycles continues. 

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Lubricant Viscosity Grade Improvers Market ? Market Dynamics
Key factor driving market growth

• Growing investment in the infrastructure sector in APAC is a major factor driving the growth of the global lubricant viscosity grade improvers market. 
• In this market, China accounts for the largest, fastest-growing value pool driven by growth across sectors, including road transport, construction, and manufacturing.
• The country invested around USD 13.1 billion in the development and construction of the Beijing International Airport in 2020, which is designed to handle about 72 million passengers by 2025.
• Similarly, in 2022, China invested USD 3.9 billion in Olympic infrastructure.
• Hence, such rapid growth in APAC drives the market growth during the forecast period.

Leading trends influencing the market 

• The rising adoption of synthetic lubricants is an emerging trend in the global lubricant viscosity grade improvers market growth.
• These are lubricants formulated using base oil from an advanced chemical industry, such as Esthers, PAO (Poly Alpha Olephine), and better-performing synthetic lubricants that are corrosion-resistant and antioxidant.
• It also withstands a wide temperature range from -60°C to over 450°C as well as extends lubricant life 4-8 times over petroleum-based lubricants and provides better performance compared to mineral-based lubricants.
• Hence, such factors boost market growth during the forecast period.

Major challenges hindering the market growth

• Fluctuation in crude oil prices is a challenge hindering the growth of the global lubricant viscosity grade improvers market. 
• Raw materials prices such as thermoplastic polymers have fluctuated since 2015 and additionally, petroleum and natural gas derivatives are lubricant thickeners.
• Furthermore, petroleum and natural gas derivatives are lubricant thickeners, and thus, the price of these materials fluctuates with the price of natural gas and crude oil.
• Hence, the volatility in the price of crude oil will hamper the growth of the global lubricant viscosity grade improvers market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Lubricant Viscosity Grade Improvers Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the lubricant viscosity grade improvers market between 2023 and 2027
• Precise estimation of the size of the lubricant viscosity grade improvers market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the lubricant viscosity grade improvers market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of lubricant viscosity grade improvers market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary ? Chart on Market Overview
• Exhibit 02: Executive Summary ? Data Table on Market Overview
• Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
• Exhibit 04: Executive Summary ? Chart on Market by Geography
• Exhibit 05: Executive Summary ? Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary ? Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary ? Chart on Incremental Growth
• Exhibit 08: Executive Summary ? Data Table on Incremental Growth
• Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global lubricant viscosity grade improvers market 2017 - 2021 
• Exhibit 18: Historic Market Size ? Data Table on global lubricant viscosity grade improvers market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size ? Application Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size ? Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size ? Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size ? Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers ? Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers ? Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants ? Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes ? Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry ? Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Vehicle lubricants - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Vehicle lubricants - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Vehicle lubricants - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Vehicle lubricants - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Vehicle lubricants - Year-over-year growth 2022-2027 (%)

• 6.4 Industrial lubricants - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Industrial lubricants - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Industrial lubricants - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Industrial lubricants - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Industrial lubricants - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)
• Exhibit 43: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 44: Chart on Product - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 46: Chart on Comparison by Product
• Exhibit 47: Data Table on Comparison by Product

• 7.3 Polymethacrylate (PMA) - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Polymethacrylate (PMA) - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Polymethacrylate (PMA) - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Polymethacrylate (PMA) - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Polymethacrylate (PMA) - Year-over-year growth 2022-2027 (%)

• 7.4 Hydrostyrene diene copolymer (HSD) - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Hydrostyrene diene copolymer (HSD) - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Hydrostyrene diene copolymer (HSD) - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Hydrostyrene diene copolymer (HSD) - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Hydrostyrene diene copolymer (HSD) - Year-over-year growth 2022-2027 (%)

• 7.5 Polyisobutylene (PIB) and others - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Polyisobutylene (PIB) and others - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Polyisobutylene (PIB) and others - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Polyisobutylene (PIB) and others - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Polyisobutylene (PIB) and others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 60: Market opportunity by Product ($ million)
• Exhibit 61: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 103: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 American Hitech Petroleum and Chemicals Inc.
• Exhibit 115: American Hitech Petroleum and Chemicals Inc. - Overview
• Exhibit 116: American Hitech Petroleum and Chemicals Inc. - Product / Service
• Exhibit 117: American Hitech Petroleum and Chemicals Inc. - Key offerings

• 12.4 BASF SE 
• Exhibit 118: BASF SE - Overview
• Exhibit 119: BASF SE - Business segments
• Exhibit 120: BASF SE - Key news
• Exhibit 121: BASF SE - Key offerings
• Exhibit 122: BASF SE - Segment focus

• 12.5 BPT Chemicals Co. Ltd. 
• Exhibit 123: BPT Chemicals Co. Ltd. - Overview
• Exhibit 124: BPT Chemicals Co. Ltd. - Product / Service
• Exhibit 125: BPT Chemicals Co. Ltd. - Key offerings

• 12.6 Chevron Corp. 
• Exhibit 126: Chevron Corp. - Overview
• Exhibit 127: Chevron Corp. - Business segments
• Exhibit 128: Chevron Corp. - Key news
• Exhibit 129: Chevron Corp. - Key offerings
• Exhibit 130: Chevron Corp. - Segment focus

• 12.7 Croda International Plc 
• Exhibit 131: Croda International Plc - Overview
• Exhibit 132: Croda International Plc - Business segments
• Exhibit 133: Croda International Plc - Key news
• Exhibit 134: Croda International Plc - Key offerings
• Exhibit 135: Croda International Plc - Segment focus

• 12.8 Eni SpA 
• Exhibit 136: Eni SpA - Overview
• Exhibit 137: Eni SpA - Business segments
• Exhibit 138: Eni SpA - Key offerings
• Exhibit 139: Eni SpA - Segment focus

• 12.9 Evonik Industries AG 
• Exhibit 140: Evonik Industries AG - Overview
• Exhibit 141: Evonik Industries AG - Business segments
• Exhibit 142: Evonik Industries AG - Key news
• Exhibit 143: Evonik Industries AG - Key offerings
• Exhibit 144: Evonik Industries AG - Segment focus

• 12.10 Jinzhou Kangtai Lubricant Additives Co. Ltd.
• Exhibit 145: Jinzhou Kangtai Lubricant Additives Co. Ltd. - Overview
• Exhibit 146: Jinzhou Kangtai Lubricant Additives Co. Ltd. - Product / Service
• Exhibit 147: Jinzhou Kangtai Lubricant Additives Co. Ltd. - Key offerings

• 12.11 Lanxess AG 
• Exhibit 148: Lanxess AG - Overview
• Exhibit 149: Lanxess AG - Business segments
• Exhibit 150: Lanxess AG - Key offerings
• Exhibit 151: Lanxess AG - Segment focus

• 12.12 Mitsui Chemicals Inc. 
• Exhibit 152: Mitsui Chemicals Inc. - Overview
• Exhibit 153: Mitsui Chemicals Inc. - Business segments
• Exhibit 154: Mitsui Chemicals Inc. - Key offerings
• Exhibit 155: Mitsui Chemicals Inc. - Segment focus

• 12.13 NewMarket Corp. 
• Exhibit 156: NewMarket Corp. - Overview
• Exhibit 157: NewMarket Corp. - Business segments
• Exhibit 158: NewMarket Corp. - Key offerings
• Exhibit 159: NewMarket Corp. - Segment focus

• 12.14 PETRONAS Chemicals Group Berhad 
• Exhibit 160: PETRONAS Chemicals Group Berhad - Overview
• Exhibit 161: PETRONAS Chemicals Group Berhad - Business segments
• Exhibit 162: PETRONAS Chemicals Group Berhad - Key news
• Exhibit 163: PETRONAS Chemicals Group Berhad - Key offerings
• Exhibit 164: PETRONAS Chemicals Group Berhad - Segment focus

• 12.15 Sanyo Chemical Industries Ltd. 
• Exhibit 165: Sanyo Chemical Industries Ltd. - Overview
• Exhibit 166: Sanyo Chemical Industries Ltd. - Business segments
• Exhibit 167: Sanyo Chemical Industries Ltd. - Key offerings
• Exhibit 168: Sanyo Chemical Industries Ltd. - Segment focus

• 12.16 Shell plc 
• Exhibit 169: Shell plc - Overview
• Exhibit 170: Shell plc - Business segments
• Exhibit 171: Shell plc - Key offerings
• Exhibit 172: Shell plc - Segment focus

• 12.17 The Lubrizol Corp. 
• Exhibit 173: The Lubrizol Corp. - Overview
• Exhibit 174: The Lubrizol Corp. - Product / Service
• Exhibit 175: The Lubrizol Corp. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 176: Inclusions checklist
• Exhibit 177: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 178: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 179: Research methodology
• Exhibit 180: Validation techniques employed for market sizing
• Exhibit 181: Information sources

• 13.5 List of abbreviations 
• Exhibit 182: List of abbreviations

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