Global Viscosity Index Improver Market Report and Forecast 2024-2032

Global Viscosity Index Improver Market Outlook

The global viscosity index improver market is expected to grow at a CAGR of 4.3% during the period 2024-2032. Viscosity index improvers are widely employed in gear oils, multigrade engine oils, automatic transmission fluids, power-steering fluids, greases and some types of hydraulic fluid.

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The most regular application is for heavy-duty trucks and passenger cars. Materials usually employed to prepare viscosity index improvers include radial polyisoprene, polyisobutylene (PIB), polymethacrylates (PMA) and olefin co-polymers (OCP). Europe, North America, and Asia are likely to be significant markets. 

Global Market Likely to be Boosted by Uses in Industrial and Automotive Lubricant Formulations

Viscosity control versus temperature change is a key aspect of an effective and enduring lubricant. Several applications rotate between hot and cold operating temperatures and warrant similar levels of protection and lubrication all through the process.

Viscosity index improvers or viscosity modifiers prevent lubricant thinning at higher temperatures. Decreased lubricant viscosity and resultant thinning of the lubricant may diminish the protective properties of the lubricant and cause damage to the equipment. 

Viscosity index improvers are complex polymer additives that expand at higher temperatures to thicken the lubricant to make sure that the viscosity remains consistent and stable, protecting the equipment at high as well as low temperatures. Viscosity improvers enable multigrade oil formulation which eliminates the need for cyclical oil changes. The choice of viscosity index improver depends on considerations of finished fluid requirements. Polymers with high molecular weight display superior thickening efficiency, but are more prone to mechanical shear; on the other hand, polymers with lower molecular weight exhibit better shear stability but need to be employed at a higher treat rate. Some types of polymer are susceptible to oxidative and thermal degradation at elevated temperatures, thus, it becomes necessary to choose a polymer with higher oxidative and thermal stability.

Solutions by Leading Companies Expected to Stimulate Market Growth

Companies like Afton offer many types of polymer-based viscosity index improvers that function effectively in a broad range of mineral oil lubricant applications. Afton offers a variety of Olefin Copolymer (OCP) viscosity index improvers in liquid as well as solid forms. These OCP VIIs are oil soluble and well-suited to several different lubricant formulations. The company also offers many Polymethacrylate (PMA) based viscosity index improvers (VII) that may be used in multiple industrial and automotive lubricant formulations. Afton's HiTEC® Viscosity Index Improvers may also be employed in many non-lubricant related uses.

Evonik's Oil Additives Team provides a wide range of viscosity index improvers for economical blending of high performance driveline fluids with superior thickening efficiency. VISCOPLEX® solutions allow optimum energy efficiency, decreased torque loss, lesser operating temperatures and service life component durability. Functionalized variants allow achievement of prolonged fluid service life.

RiiSO distributes a variety of viscosity index improvers for the production of high quality lubricants.  TRiiSO distributes solid viscosity index improvers in bale form as well as in pellets; it also distributes liquid viscosity index improver additives.

Such solutions by solution-providers are likely to drive the global viscosity index improver market.

Demand for More Fuel-efficient Lubricants that Display Higher Performance Expected to Boost Market Growth 

Sectors such as OEMs, manufacturers of passenger vehicles, heavy duty equipment, and lubricant end-users continually demand more fuel-efficient enduring and better performing lubricants. Such demand for fluids that display superior function in severe conditions and are usable all the year round in all types of climate has led to increased use of high viscosity index high performance fluids in automotive and industrial applications. To fulfil such demands, companies like Lubrizol offer efficient solutions. Lubrizol has devised an advanced polymer additive technology called Asteric™; the technology enables polymer architecture control otherwise not possible with conventional polymer additives. Such offerings are expected to boost the global viscosity index improver market.

Market Segmentation

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By product type, the market is segmented into:

• Polymethylacrylate (PMA)

• Ethylene Propylene Copolymer (OCP)

• Hydrostyrene Diene Copolymer (HSD)

• Polyisobutylene (PIB)

• Others

By application, the market is divided into: 

• Automotive Lubricants

• Industrial Lubricants

By region, the market is classified into:

• Europe

• North America

• Latin America

• Asia Pacific

• Middle East and Africa

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Key Industry Players in the Market

The report extensively analyses significant players in the global viscosity index improver market, assesses their capacity, and observes newest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Infineum International Limited
• Chevron Oronite
• The Lubrizol Corporation
• Sanyo Chemical Industries
• LANXESS AG
• Others

Key Highlights of the Report

Viscosity Index Improver Market Report Snapshots

Viscosity Index Improver Market Size

Viscosity Index Improver Market Growth

Viscosity Index Improver Companies