This market research report presents a comprehensive segmentation of the global lubricant viscosity improvers market by end users (PCMO, HDMO, hydraulic fluids, and gear oils), chemical class (OCP, PMA, and styrenics), and by geography (APAC, EMEA, North America, and ROW). The report provides a market share analysis of the leading companies in the market such as Afton, Chevron Oronite, Evonik, Infineum, and Lubrizol.
Technavio has released updated information on the lubricants market, with the publication of its new market research report, global lubricant viscosity improvers market. The global lubricant viscosity improvers market is expected to grow at a CAGR of around 2% between 2015 and 2019. The APAC dominates the global market for viscosity improvers, owing to the development of advanced engine technologies in the region. Much of this region’s market growth comes from the rising demand for lower exhaust emissions and more fuel efficient vehicles.
“The growing awareness of energy efficiency is a key propelling factor of this market’s growth. Increased demand for automobiles and the implementation of new emission control measures globally has led to an increased adoption of lubricant and viscosity improvers. Also, consumers are opting for multi-grade oils, owing to their favourable properties like cold weather protection of the engine and better mileage performance,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research.
Olefin Copolymer (OCP) is the largest chemical class of viscosity improvers, accounting for around 75% of the total market consumption. OCP serves mainline lubricants with a broad range of performance and shear stability. Of late the consumption of low viscosity grade oils has increased, owing to increased inclination towards fuel-efficient environment.
Global lubricant viscosity improvers market by chemical class
Source: Technavio Research
The leading players in the global lubricant viscosity improvers market are Afton, Chevron Oronite, Lubrizol, Evonik and Infineum. The market is predicted to witness an increased influx of private providers and consolidations during the forecast period. To survive in the intensely competitive environment, vendors are focusing to distinguish their product and service offerings through a clear and unique value proposition.
A more detailed analysis is available in the Technavio report, Global Lubricant Viscosity Improvers Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
Other Related Reports:
