Future Market Insights
Introduction: Viscosity Index Improvers Market
Viscosity is considered to be a key factor for the measuring of quality of a lubricant. Viscosity is the quantity for expressing the magnitude of the internal frication of the fluid whereas, viscosity index determines the extent of viscosity of the hydraulic fluid which can change with the temperature as the viscosity index improves there may small change in fluid viscosity for the given temperature. Viscosity Index Improvers enhance lubrication under high stress which are an integral part of fuel additives for smooth functioning of automotive as well as non-automotive engines. Lubricant as well as Additive Chemical Manufacturers have been associated with the development of the product for automotive and industrial end users which are also termed as viscosity modifiers.
Viscosity index improvers are the polymers additives taken from polyalkyl methyl acrylates, poly iso butylenes, olefin co-polymers, etc. which may reduce the impact of increasing temperature on viscosity of lubricants. Lubricant viscosity index improvers help the lubricant blenders to achieve the required significant properties, such as reduction of lubrication viscosity tendency to change when it subjected to temperature fluctuation to protect equipment at extreme temperature. Viscosity index improvers reduce the dependency of the lubrication viscosity in order to change increase or decrease of temperature. Viscosity index improvers belongs to two key properties which are shear stability and thickening efficiency. In order to achieve excellent fuel efficiency, durability and performance all these can be achieved by proper selection of viscosity index improvers. The application of viscosity index improvers achieves the maximum efficiency, performs better even at low temperature and protect the equipment from harmful wear. Environmental concern is expected to play key role in the viscosity index improvers market. Additionally, the reduction of some elements such as phosphorus, sulfur, chlorine and other metals proceeded at a fast rate over the last couple of years.
Market Dynamics: Viscosity Index Improvers Market
Increasing adoption of technology in viscosity index improvers market is expected to capture the maximum market share in terms of revenue in between the forecast period. Significant advantage associated with use of viscosity index improvers and increasing demand from the end use industries are the positive key drivers which is expected to propel the overall demand of the viscosity index improvers market. One of the major key factor is expected to hamper the market growth is relatively high cost of the raw materials in the global market. Increasing demand of green products and fully automated system are the benchmark trends for the viscosity index improvers market in the coming future.
In terms of classification, polymethylacrylate is expected to dominate the global market with more than half of the market share in terms of value and volume. Increasing industrial application is expected to cater the market growth in the forecast period. On the basis of geographical region, Western Europe and North America are expected to gain maximum share in terms of revenue in viscosity index improvers market globally. Middle East and Africa is expected to grow with sluggish growth in viscosity index improvers market.
Market Segmentation: Viscosity Index Improvers Market
Viscosity index improvers market segmented on the basis of classification and application.
On the basis of classification viscosity index improver segmented as
On the basis of application viscosity index improvers market segmented as
Regional Outlook: Viscosity Index Improvers Market
Globally, Western Europe and North America are anticipated to drive the growth with healthy CAGR over the forecast period followed by Asia Pacific Middle East and Africa. Developing nations, such as BRICS (Brazil, Russia, India, China and South Africa) will contribute significantly to the global viscosity index improvers market in between the forecast period. Manufacturers tend to equip their end products with high-end safety and better quality to the customers in the global market. This is anticipated to act as a catalyst for the growth of the overall viscosity index improvers market over the forecast period.
Some of the key players in the viscosity index improvers market are
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