Fior Markets launched a study titled “Viscosity Index Improvers Market by Type (Polymethacrylate, Olefin Copolymer, Polyisobutylene, Others), End User Industry, Regions”,and Global Forecast 2018-2025.
The global Viscosity Index Improvers market is expected to grow from USD XX.XX Million in 2017 to USD XX.XX Million by 2025, at a CAGR of X.XX% during the forecast period from 2018-2025. Increasing demand from automotive industry and industrial sector for thehigh quality lubricants that remain stable at a high temperature is the factor that is boosting the global viscosity index improvers market.
Although the rising demand for high performance lubricants and global increase in automobile sales are the factors that are driving the global Viscosity Index Improvers market. The susceptibility of lubricants to mechanical shearing as well as prolonged engine oil drain interval duration are anticipated to be the major restraining factors for the market growth.
Polymethacrylate viscosity improver segment had a market value of USD XX.XX million in 2017
Type segment is divided into polymethacrylate, olefin copolymer, polyisobutylene, and others. On account of their widespread use in the production of industrial lubricants the polymethacrylate viscosity improver segment emerge as the largest in the global Viscosity Index Improvers market with USD XX.XX million revenue in 2017. Olefin Copolymers segment is projected to progress at a steady growth rate over the forecast period.
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Industrial machinery segment is anticipated to grow at the highest pace in 2018-2025
End user industry is segmented into automotive, off-road vehicles, industrial machinery, and others. On account of factors such as increasing demand for the lubricants with improved thermal performance as well as to improve the fuel economy and reduce engine deposits, the automotive segment emerged as the leader in the global Viscosity Index Improvers market with USD XX.XX million revenue in 2017. The rapid pace of industrialization in the developing economies of the world coupled with an increasing focus on the maintaining the industrial machinery are the factors that are anticipated to propel the industrial segment to attain the highest CAGR of X.XX% over the forecast period.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Flourishing demand for the automobiles, as well as the rapid pace of industrial region in the region, were the factors that propelled the Asia Pacific region to emerge as the leader in the global Viscosity Index Improvers market with USD XX.XX million revenue in 2017. North America region also accounted for a robust market share in 2017 owing to its well-established automotive and industrial sector.
Major players in the global Viscosity Index Improvers market are The Lubrizol Corporation, Nanjing Runyou Chemical industry Additive Co., Ltd., Evonik Industries AG, Sanyo Chemical Industries, Ltd., Afton Chemical Corporation, Chevron Oronite Company LLC, Shenyang Great Wall Lubricating Oil Manufacturing Co., Ltd., BASF AG, Xingyun Chemical, Shanghai High-Lube Additives, YASHIKE LAI’EN, BPT Chemical, and among others.
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