Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Viscosity Index Improvers Market by Type (Low, Medium, High, Very High Viscosity Fluids), By Application (Car, Ship, Machinery And Equipment, Other) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Viscosity Index Improvers Market by Type (Low, Medium, High, Very High Viscosity Fluids), By Application (Car, Ship, Machinery And Equipment, Other) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 137935 3300 Chemical & Material 377 240 Pages 5 (38)

Market Overview:

The global viscosity index improvers market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The high demand for low, medium and high viscosity fluids from the automotive, shipping and machinery industries are the key factors driving the growth of the global viscosity index improvers market. Based on type, the global viscosity index improvers market has been segmented into low, medium, high and very high viscosity fluids. Low viscosity fluids are expected to account for a major share of the global market during the forecast period owing to their wide applicability in various end-use industries. Medium viscosity fluids are also anticipated to witness significant growth during 2018-2030 due their increasing use as lubricants in automobiles and ships.

Global Viscosity Index Improvers Industry Outlook

Product Definition:

A viscosity index improver is a substance that is added to a lubricating oil to increase its viscosity index. This means that the oil will be less likely to thin out at high temperatures and will stay thicker under pressure, which can help protect against wear and tear. Viscosity index improvers are important for high-temperature applications such as automotive engines.


Low is a viscosity index improver, which increases the fluid's surface area and reduces its volume. It is added to liquid fertilizers to increase their ability to absorb water and nutrients from the soil. The product helps in increasing crop yield by improving seed germination as well as fruit development. It also minimizes moisture loss during grain processing and improves flour quality by reducing gluten levels in wheat flour.


Medium is a colorless and odorless liquid with viscosity. It has many industrial applications such as in paints, coatings, printing inks, adhesives & sealants and elastomers. Medium can also be used to improve the flow characteristics of polymers or to adjust the rheology of an ink formulation.

Application Insights:

Machinery and equipment was the largest application segment in 2016, accounting for over 40% of the global market. Machinery and equipment are usually manufactured using high-performance materials that ensure long life spans. Improvers help maintain performance of these complex machinery components by reducing friction, wear and tear. They also help reduce oil consumption by increasing efficiency of lubrication systems in machinery and heavy industrial applications.

The other segment includes consumer goods such as household appliances that require low viscosity fluids to function properly or at all levels of performance required from them. The growth rate for this segment is expected to be higher than others owing to rising population globally which has a direct impact on increased use of consumer goods such as refrigerators, washing machines etcetera over the forecast period globally which will increase demand for GVIIsIIMAO).

Regional Analysis:

Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing foreign investments in countries such as China, India, and Japan. For instance, in July 2017, Sinopec acquired a 19.9% stake of Lotte Chemical Indonesia (LCII) for USD X billion which will help it expand its lubricant production capacity in Indonesia and strengthen its foothold across Southeast Asia region by providing additional downstream services for other companies’ raw materials and chemicals needs.

Growth Factors:

  • Increasing demand for high-performance lubricants from the automotive and industrial sectors
  • Growing awareness about the benefits of using VI improvers in lubricants
  • Rising investments in research and development to develop new and better VI improvers
  • Proliferation of nanotechnology-based VI improvers that offer better performance than traditional products
  • Increasing demand for environmentally friendly products

Scope Of The Report

Report Attributes

Report Details

Report Title

Viscosity Index Improvers Market Research Report

By Type

Low, Medium, High, Very High Viscosity Fluids

By Application

Car, Ship, Machinery And Equipment, Other

By Companies

Chevron Oronite Company LLC, Infineum International Limited, Afton Chemical, Functional Products, The Lubrizol Corporation, Evonik, Conco Philips, Tri-iso Tryline

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Viscosity Index Improvers Market Report Segments:

The global Viscosity Index Improvers market is segmented on the basis of:


Low, Medium, High, Very High Viscosity Fluids

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Car, Ship, Machinery And Equipment, Other

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Chevron Oronite Company LLC
  2. Infineum International Limited
  3. Afton Chemical
  4. Functional Products
  5. The Lubrizol Corporation
  6. Evonik
  7. Conco Philips
  8. Tri-iso Tryline

Global Viscosity Index Improvers Market Overview

Highlights of The Viscosity Index Improvers Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Low
    2. Medium
    3. High
    4. Very High Viscosity Fluids
  1. By Application:

    1. Car
    2. Ship
    3. Machinery And Equipment
    4. Other
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Viscosity Index Improvers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Viscosity Index Improvers Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Viscosity index improvers are a type of additive that can be used to improve the viscosity of a fluid. They are often used in industrial and chemical applications where high viscosity is desired, such as in paints, coatings, and adhesives.

Some of the key players operating in the viscosity index improvers market are Chevron Oronite Company LLC, Infineum International Limited, Afton Chemical, Functional Products, The Lubrizol Corporation, Evonik, Conco Philips, Tri-iso Tryline.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Viscosity Index Improvers Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Viscosity Index Improvers Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Viscosity Index Improvers Market - Supply Chain
   4.5. Global Viscosity Index Improvers Market Forecast
      4.5.1. Viscosity Index Improvers Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Viscosity Index Improvers Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Viscosity Index Improvers Market Absolute $ Opportunity

5. Global Viscosity Index Improvers Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Viscosity Index Improvers Market Size and Volume Forecast by Type
      5.3.1. Low
      5.3.2. Medium
      5.3.3. High
      5.3.4. Very High Viscosity Fluids
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Viscosity Index Improvers Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Viscosity Index Improvers Market Size and Volume Forecast by Application
      6.3.1. Car
      6.3.2. Ship
      6.3.3. Machinery And Equipment
      6.3.4. Other
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Viscosity Index Improvers Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Viscosity Index Improvers Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Viscosity Index Improvers Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Viscosity Index Improvers Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Viscosity Index Improvers Demand Share Forecast, 2019-2029

9. North America Viscosity Index Improvers Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Viscosity Index Improvers Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Viscosity Index Improvers Market Size and Volume Forecast by Application
      9.4.1. Car
      9.4.2. Ship
      9.4.3. Machinery And Equipment
      9.4.4. Other
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Viscosity Index Improvers Market Size and Volume Forecast by Type
      9.7.1. Low
      9.7.2. Medium
      9.7.3. High
      9.7.4. Very High Viscosity Fluids
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Viscosity Index Improvers Demand Share Forecast, 2019-2029

10. Latin America Viscosity Index Improvers Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Viscosity Index Improvers Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Viscosity Index Improvers Market Size and Volume Forecast by Application
      10.4.1. Car
      10.4.2. Ship
      10.4.3. Machinery And Equipment
      10.4.4. Other
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Viscosity Index Improvers Market Size and Volume Forecast by Type
      10.7.1. Low
      10.7.2. Medium
      10.7.3. High
      10.7.4. Very High Viscosity Fluids
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Viscosity Index Improvers Demand Share Forecast, 2019-2029

11. Europe Viscosity Index Improvers Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Viscosity Index Improvers Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Viscosity Index Improvers Market Size and Volume Forecast by Application
      11.4.1. Car
      11.4.2. Ship
      11.4.3. Machinery And Equipment
      11.4.4. Other
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Viscosity Index Improvers Market Size and Volume Forecast by Type
      11.7.1. Low
      11.7.2. Medium
      11.7.3. High
      11.7.4. Very High Viscosity Fluids
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Viscosity Index Improvers Demand Share, 2019-2029

12. Asia Pacific Viscosity Index Improvers Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Viscosity Index Improvers Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Viscosity Index Improvers Market Size and Volume Forecast by Application
      12.4.1. Car
      12.4.2. Ship
      12.4.3. Machinery And Equipment
      12.4.4. Other
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Viscosity Index Improvers Market Size and Volume Forecast by Type
      12.7.1. Low
      12.7.2. Medium
      12.7.3. High
      12.7.4. Very High Viscosity Fluids
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Viscosity Index Improvers Demand Share, 2019-2029

13. Middle East & Africa Viscosity Index Improvers Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Viscosity Index Improvers Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Viscosity Index Improvers Market Size and Volume Forecast by Application
      13.4.1. Car
      13.4.2. Ship
      13.4.3. Machinery And Equipment
      13.4.4. Other
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Viscosity Index Improvers Market Size and Volume Forecast by Type
      13.7.1. Low
      13.7.2. Medium
      13.7.3. High
      13.7.4. Very High Viscosity Fluids
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Viscosity Index Improvers Demand Share, 2019-2029

14. Competition Landscape
   14.1. Global Viscosity Index Improvers Market: Market Share Analysis
   14.2. Viscosity Index Improvers Distributors and Customers
   14.3. Viscosity Index Improvers Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Chevron Oronite Company LLC Overview Financials Developments Strategic Outlook
      14.4.2. Infineum International Limited Overview Financials Developments Strategic Outlook
      14.4.3. Afton Chemical Overview Financials Developments Strategic Outlook
      14.4.4. Functional Products Overview Financials Developments Strategic Outlook
      14.4.5. The Lubrizol Corporation Overview Financials Developments Strategic Outlook
      14.4.6. Evonik Overview Financials Developments Strategic Outlook
      14.4.7. Conco Philips Overview Financials Developments Strategic Outlook
      14.4.8. Tri-iso Tryline Overview Financials Developments Strategic Outlook
      14.4.9. COMPANY9 Overview Financials Developments Strategic Outlook
      14.4.10. COMPANY 10 Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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