Market Research Report
Global Viscosity Index (Vi) Improvers Market Forecast 2022-2030
|Global Viscosity Index (Vi) Improvers Market Forecast 2022-2030|
Published: January 19, 2022
Content info: 167 Pages
Delivery time: 2-3 business days
The global viscosity index (VI) improvers market is expected to register a CAGR of 2.90% during the estimated years of 2022 to 2030. The market growth is accredited to the increasing need for high-performance engine oils as well as the rising consumption and production of lubricants.
Viscosity index is widely utilized to measure the change in the viscosity of a fluid in relation to temperature. The greater the viscosity index, the lesser is the relative change in viscosity with temperature. Moreover, they increase the fluid's viscosity throughout its useful temperature range. Viscosity improvers' applications include different grades of engine oils, power steering fluids, automatic transmission fluids, gear oils, greases and several hydraulic fluids.
Lubricants are an integral part of the modern-day industry. They are used to reduce friction between two surfaces, thus improving operational efficiency and offering wear protection to surfaces. This extends machine runtimes, in addition to inhibiting the wear and tear of machine components. In order to ensure the lubricant remains effective even at higher temperatures, different additives, such as viscosity index improvers, are added for improving the lubricants' effectiveness and consistency at varying temperatures.
The global viscosity index (VI) improvers market growth evaluation includes the assessment of the Asia-Pacific, North America, Europe, and Rest of
World. Asia-Pacific is anticipated to grow with the highest CAGR over the forecasting period due to the increasing demand for high-performance lubricants and the rising production of automobiles.
The global viscosity index (VI) improvers market is partially consolidated, with the presence of leading global players like Afton Chemical, The Lubrizol Corporation, and Infineum International Limited, among others. Overall, the degree of industrial rivalry within the global viscosity index (VI) improvers market is expected to remain high.
Some of the top companies operating in the market are: BASF SE, BRB International BV, Exxon Mobil Corporation, etc.