Lubricant Viscosity Index Improvers Market was valued at USD 3.2 Billion in 2022 and is projected to reach USD 5.1 Billion by 2030, growing at a CAGR of 6.3% from 2024 to 2030.
In 2023 and beyond, the lubricant viscosity index improvers market is projected to see an even stronger demand, reflecting the increasing need for more sustainable and advanced lubrication solutions. As industries focus on minimizing carbon footprints and reducing emissions, the demand for lubricants that can perform efficiently under extreme conditions has accelerated. Innovations in synthetic and semi-synthetic oils are expected to fuel growth, alongside developments in alternative fuels that require highly specialized lubricants. This evolution has led to a rise in the development of high-performance VIIs, which can ensure lubricants maintain optimal viscosity under a broad range of temperatures, supporting the overall trend toward higher engine efficiency and reduced environmental impact.
The automotive sector, especially electric vehicles (EVs), is expected to play a significant role in the future demand for lubricant viscosity index improvers. As EV adoption grows, the need for specialized fluids that optimize battery and motor efficiency will become increasingly vital. In addition to automotive applications, aerospace and industrial sectors are also shifting toward more advanced lubrication systems, which will further spur the development of VIIs that cater to a broader range of operational conditions. Additionally, the continued push towards reducing friction and wear in machinery to improve longevity and performance will drive further demand for high-quality viscosity index improvers across various industries.
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The lubricant viscosity index improvers (VIIs) market has experienced notable fluctuations from 2018 to 2022. The demand for lubricants and their performance has grown in industries such as automotive, industrial machinery, and aerospace, driving the need for advanced additives that improve the viscosity index of oils. VIIs are essential for enhancing the performance of lubricants in varying temperatures, ensuring consistency and engine efficiency. As global industrialization continued, the lubricant market was significantly impacted by the growing demand for high-performance engine oils and fluids, particularly in regions with hot and cold climate conditions. This market growth trajectory was driven by stringent environmental regulations, which pushed manufacturers to innovate and develop more energy-efficient and durable lubricants.
Lubrizol
Oronite
Infineum
Afton
BASF
Evonik
Sanyo Chemical
Shengyang Greatwall
Nanjing Runyou
Xingyun Chemical
Shanghai High-Lube Additives
YASHIKE LAI EN
BPT Chemical
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Lubricant Viscosity Index Improvers Market
Automotive Lubricants
Industrial Lubricants
Others
Based on Types the Market is categorized into Below types that held the largest Lubricant Viscosity Index Improvers market share In 2023.
Olefin Copolymer VI Improver (OCP)
Polymethacrylate Viscosity Index Improver (PMA)
Others(Such as PIB
SEBS)
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Lubricant Viscosity Index Improvers Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Lubricant Viscosity Index Improvers Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Lubricant Viscosity Index Improvers Market, By Type
6. Global Lubricant Viscosity Index Improvers Market, By Application
7. Global Lubricant Viscosity Index Improvers Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Lubricant Viscosity Index Improvers Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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