This research report titled ‘Global Lubricant Viscosity Grade Improvers Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global lubricant viscosity grade improvers market is expected to grow rapidly till 2019 but may face a slowdown in 2020 and 2021 because of the increase in production and demand for hybrid and electric vehicles. New entrants are planning to enter the market as the technology required to manufacture viscosity grade improvers is easily available. The only reason they are restricting themselves is the anticipated slow growth of the market.
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Technavio’s analysts categorize the global lubricant viscosity grade improvers market into four major segments by end user. They are:
- Passenger car motor oils (PCMOs)
- Heavy-duty motor oils (HDMOs)
- Hydraulic fluids
- Gear oils
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The top three segments based on end user for the global lubricant viscosity grade improvers market are discussed below:
Global lubricant viscosity grade improvers market for PCMOs
PCMOs are the largest end-user segment of the market. It accounted for 47.4% of the overall volume consumption in 2016. In PCMOs, viscosity grade improvers are used to provide high fuel economy, to reduce emissions, frictions, and chances of damage and wear and result in the effective functioning of the lubricant. In PCMOs, OCP- and styrenics-based viscosity grade improvers are commonly used.
According to Shakeel Iqbal, a lead specialty chemicals research analyst from Technavio, “Viscosity grade improvers used in multigrade engine oil formulations are available in dispersant as well as non-dispersant types. PMA is another type of chemical class viscosity improvers used in PCMOs. The optimization of formulations for low-viscosity grade oils such as 0W-16, which are required to meet the GF-6A and GF-6B requirements, will positively influence the consumption of viscosity grade improvers.”
Global lubricant viscosity grade improvers market for HDMOs
HDMOs are the second largest the end-user segment of the market. The segment accounted for 35.4% of the overall volume consumption in 2016. OCP-based viscosity grade improvers are the most effective in the HDMO category. HDMOs use viscosity grade improvers that contain self-assembling diblock copolymers.
“The focus has increased on the betterment of the environment and the elimination of greenhouse gases. The emission regulations passed by various agencies such as the Environmental Protection Agency and the Vehicle Certification Agency for commercial and heavy-duty vehicles used for transportation have increased investments in measures that reduce the emission of carbon dioxide and similar harmful gases,” says Shakeel.
Global lubricant viscosity grade improvers market for hydraulic fluids
The hydraulic fluid segment is one of the major end-users, where OCP-, PMA- and polyisobutylene (PIB)-based viscosity grade improvers are used. PIB-based viscosity grade improvers are used primarily during low temperature. These are used as cost-effective thickeners.
PMA- and PIB- based viscosity grade improvers are more preferred than OCP-based viscosity grade improvers in several appliances that work under low temperature but require high shear stability. The content of these polymers depends on the class of chemicals.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Chevron Oronite
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