Authored By: Sarah
11 Jul 2024

 Lubricant Viscosity Grade Improvers Market to grow by USD 452.7 million between 2024-2028

According to a research report “ Lubricant Viscosity Grade Improvers Market” by Application (Vehicle lubricants, Industrial lubricants) Product (Polymethacrylate (PMA), Hydrostyrene diene copolymer (HSD), Polyisobutylene (PIB) and others) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 452.7 million at a CAGR of  2.09% during the forecast period. The lubricant viscosity grade improvers market experiences significant growth, driven by various industries beyond automotive. Notably, construction, steel and cement, mining, and oil drilling, and marine sectors contribute substantially. In construction, lubricants' anti-wear properties, resistance to corrosion, and excellent lubricity extend equipment life and enhance performance. In steel and cement industries, lubricants increase equipment efficiency, extend drain intervals, and improve wear resistance, ultimately boosting productivity and profitability..

Browse market data tables, figures, and in-depth TOC on “Lubricant Viscosity Grade Improvers Market” by Application (Vehicle lubricants, Industrial lubricants) Product (Polymethacrylate (PMA), Hydrostyrene diene copolymer (HSD), Polyisobutylene (PIB) and others) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028.

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By Application, the Vehicle lubricants segment is projected to dominate the market size in 2024.

Polymethacrylate (PMA) thermoplastics, characterized by their high transparency and ease of processing, serve as essential components in the production of lubricant viscosity grade improvers. In industrial applications, these amorphous commodities function as adhesives, binders, and coatings, enhancing the performance of automotive and aerospace components. By reducing vehicle weight, increasing fuel efficiency, and improving aesthetic appeal through bonding, PMAs contribute significantly to the lubricant viscosity grade improvers market. Their fatigue-resistant properties and minimal surface area requirements make them indispensable in the manufacturing of automotive and aerospace parts, including wheel arches, bumpers, roof panels, lighting fixtures, and internal fixtures.

By Product, Polymethacrylate (PMA)  segment is expected to hold the largest market size for the year 2024.

In the Lubricant Viscosity Grade Improvers Market, businesses seek solutions to enhance the performance and efficiency of their lubricants. Grade improvers play a crucial role in modifying the viscosity of lubricants to meet specific industrial requirements. By utilizing advanced technologies and innovative formulations, market participants strive to deliver high-performance viscosity improvers that ensure optimal lubricant functionality and extended equipment life.

APAC is forecasted to hold the largest market size by region in 2024.

In the Lubricant Viscosity Grade Improvers Market, businesses seek solutions to enhance the performance and efficiency of their lubricants. Grade improvers play a crucial role in modifying the viscosity of lubricants to meet specific industrial requirements. By utilizing advanced technologies and innovative formulations, market participants strive to deliver high-performance viscosity improvers that ensure optimal lubricant functionality and extended equipment life.

The Lubricant Viscosity Grade Improvers Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • American Hitech Petroleum and Chemicals Inc.
  • Asian Oil Co.
  • BASF SE
  • BPT Chemicals Co. Ltd.
  • CHETAS BIOCHEM
  • Chevron Corp.
  • Croda International Plc
  • Eni SpA
  • Evonik Industries AG
  • Goodway Chemicals Pvt. Ltd.
  • Innov Oil Pte Ltd.
  • Jinzhou Kangtai Lubricant Additives Co. Ltd.
  • Lanxess AG
  • Mitsui Chemicals Inc.
  • NewMarket Corp.
  • PETRONAS Chemicals Group Berhad
  • Sanyo Chemical Industries Ltd.
  • Shanghai Minglan Chemical Co. Ltd.
  • Shell plc
  • The Lubrizol Corp.
.

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Research Analysis Overview

In the dynamic and evolving energy sector, the demand for lubricant viscosity grade improvers continues to expand, particularly in the automotive industry and industrial sectors. These improvers play a crucial role in enhancing the performance of various types of lubricants, including engine oils, transmission fluids, braking fluids, and industrial lubricants. The automotive industry's growth is fueled by advancements in technology, leading to the production of high-performance automobiles that require superior lubricants. Quenching oils, metalworking fluids, and drilling fluids also benefit from the use of viscosity grade improvers, ensuring optimal machinery performance and operating temperatures. Viscosity index improvers (VIIs) are essential additives that contribute to the improved viscosity and overall performance of lubricants. Olefin copolymer, a common type of VIIs, is widely used in engine lubricants and industrial lubricants due to its ability to maintain consistent viscosity under varying temperatures. The expanding potential markets for lubricant viscosity grade improvers include the automotive, industrial, and energy sectors. As machinery and automobile output continue to increase, the demand for high-quality lubricants and their associated improvers will continue to grow.

Market Research Overview

The Lubricant Viscosity Grade Improvers market is a significant segment in the specialty chemical industry, catering to the demands of various sectors such as the automotive, aerospace, marine, energy, and industrial industries. These improvers play a crucial role in enhancing the performance of lubricants by improving their viscosity index (VI), which directly impacts engine performance, fuel efficiency, and equipment durability. Key players in this market include BPT Chemical, Sanyo Chemical, Evonik, Afton, Infineum, Oronite, and others. They offer high-lube additives based on polymethacrylate, olefin copolymer, and other technologies to meet the lubricant formulation requirements of end-users. The market for lubricant viscosity grade improvers is expanding due to the rising automotive industry growth, increasing commercial vehicle sales, and the expanding potential markets for multigrade oils in light vehicles and heavy-duty applications. However, market restraints include regulatory standards for emissions and environmental regulations, which call for sustainable lubricant solutions and the use of renewable sources such as ester-based lubricants and vegetable oils. The benefits of using viscosity index improvers include improved fuel economy, temperature resistance, shear stability, film strength, pour point performance, and compatibility with various base oils and specialty lubricants. These factors make the lubricant viscosity grade improvers market a vital component in the global lubricants industry.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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