Published: 21-Jan-2020 | Published By: Market Research Store
The published report on “Viscosity Index Improvers Market –By Type (Low, High, Medium, and Very High Viscosity Fluids) and By Application (Car, Machinery & Equipment, Ship, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025.” exhibits the demand for global Viscosity Index Improversmarket in 2018 was around USD3.4 billion. It is expected to reach approximately USD 4.47 billion by 2025 with a CAGR of around 4%.
Browse 117 Market Data Tables and 46 Figures spread through 117 Pages and in-depth TOC on "Global Viscosity Index Improvers (VII) Market (Manufacturing, Aviation & Transportation, Food Processing, Science & Technology), Region - Global Forecast to 2025" View detailed Table of Content here - https://www.marketresearchstore.com/report/global-viscosity-index-improvers-vii-market-report-2019-680618
The viscosity index is the measurement of the change of the fluid in viscosity vis-à-vis temperature change. Furthermore, viscosity index improvers also resist thinning occurringin lubricant with the prominent rise in the temperature. Precisely, the viscosity index improvers are the additives that assist in enhancing the fluid viscosity throughout the temperature range.
Furthermore, viscosity index improvers find a spectrum of applications in greases, multigrade engine oils,hydraulic fluids, gear oils, automated transmission fluids, and power-steering fluids. This is predicted to create lucrative growth avenues for the viscosity index improvers industry during 2019-2025.
Moreover, the industry 4.0 revolution is likely to favorably impact the growth of the business over the forecast period. Apparently, the growing utility of industrial lubricants, two-wheeler lubricants,hydraulic fluid, automotive lubricants, and process oil will prompt the expansion of the viscosity index improvers industry during the period from 2019 to 2025.
The thriving vehicle manufacturing business and marine sector are predicted to offer lucrative growth opportunities for the viscosity index improvers industry over the forecast period. Moreover, a prominent bulge in the research programs initiated by the players to expand their product portfolioalong with process innovations will spearhead the viscosity index improversindustry evolution over the forecast period. The rise in the popularity and usage of Polymethacrylate and Ethylene propylene copolymer across various end-use sectors will proliferate the market expansion over the period from 2019 to 2025.
Favorable features of the viscosity enhancers such as thickening efficacy and shear stability will contribute majorly towards the business growth over the forecast timespan. Escalatinguse of automated systems across the end-use sectors will embellish the growth rate of the industry over the period from 2019 to 2025.
Additionally,industry participants are trying to coin new ways forreducing or mitigating the environmental damage caused as a result of the production of the chemical and this is likely to promote the business growth over the forecast timeline.
In addition to this, the Asia Pacific, which accounted for over 30% of the overall market share in 2017, is set to register huge growth during the forecast timeline. The growth of the market in the region over 2019-2025 is credited to the massive sale of vehicles and the thriving automotive sector in emerging economies like India and China.
Key players in the Viscosity Index Improvers Market includeChevron Oronite Company LLC, Tri-isoTryline, Evonik, The Lubrizol Corporation,Functional Products, Afton Chemical, andConco Philips.
This report segments the Viscosity Index Improvers market as follows:
Global Viscosity Index ImproversMarket: By Type Segment Analysis
- Very High Viscosity Fluids
Global Viscosity Index Improvers Market: By Application Segment Analysis
- Machinery & Equipment
Global Viscosity Index ImproversMarket: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key Pointers Addressed by the Report
- Historical data and forecast analysis of the market
- Drivers and Restraints affecting market dynamics
- Exhaustive analysis about the future market trends
- Comprehensive information about the leading market segments and region
- Strategic developments made by the competitive players and in-depth analysis about its impact on market growth
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