The Asia-Pacific viscosity index (VI) improvers market is estimated to record a CAGR of 3.13% during the forecasting years of 2022 to 2030. The regional market’s growth is facilitated by the increasing demand for improved and high-performance lubricants, the rapidly developing automotive sector, and the rising domestic automobile production.
ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET FORECAST 2022-2030
Asia-Pacific Viscosity Index (VI) Improvers Market by Type (Polymethacrylate, Olefin Copolymer, Polyisobutylene, Other Type) Market by Application (Automotive, Industrial, Other Applications) by Geography
The Asia-Pacific viscosity index (VI) improvers market is estimated to record a CAGR of 3.13% during the forecasting years of 2022 to 2030. The regional market’s growth is facilitated by the increasing demand for improved and high-performance lubricants, the rapidly developing automotive sector, and the rising domestic automobile production.
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The Asia-Pacific viscosity index (VI) improvers market growth analysis comprises the analysis of Australia & New Zealand, Thailand, South Korea, Indonesia, Vietnam, India, China, Japan, and Rest of Asia-Pacific. China is the largest economy in the Asia-Pacific in terms of gross domestic product (GDP). Moreover, as the largest lubricant market, the country is anticipated to continue observing a similar trend despite the slow economic growth. China’s government is also concentrating on replacing obsolete equipment, thus augmenting the demand for high-performance and improved lubricants. Moreover, the automotive manufacturing industry is also the largest globally, with a manufacturing share of nearly 28% in the year 2019.
Conversely, the lubricants industry in Japan recorded sluggish growth in recent years, mainly owing to a sharp decline in the production and sale of motor vehicles, reduced domestic demand, and stagnant industrial output. However, with the government’s increasing investment in sectors such as automotive, construction, and energy, the demand for lubricants, and subsequently, viscosity index improvers, is set to increase over the upcoming years. Hence, these factors are expected to fuel the Asia-Pacific viscosity index (VI) improvers market growth during the forecasted period.
Asian Oil Company is primarily involved in the processing, export, and manufacturing of a comprehensive range of white petroleum jelly, liquid paraffin, base oil, automotive lubricants, paraffin wax, as well as industrial lubricants. It caters to customers across diverse industries, such as textile, cosmetics, pharmaceuticals, chemicals, and transformers. The company is headquartered in Mumbai, India.
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- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- MARKET DYNAMICS
- KEY DRIVERS
- DEMAND FOR HIGH-PERFORMANCE ENGINE OILS
- INCREASED CONSUMPTION AND PRODUCTION OF LUBRICANTS
- KEY RESTRAINTS
- LONGER OIL CHANGE INTERVALS DUE TO ADVANCEMENTS IN LUBRICANT TECHNOLOGY
- ADDITIONAL ASSOCIATED COSTS
- KEY DRIVERS
- KEY ANALYTICS
- IMPACT OF COVID-19 ON VISCOSITY INDEX (VI) IMPROVERS MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- MARKET BY TYPE
- POLYMETHACRYLATE
- OLEFIN COPOLYMER
- POLYISOBUTYLENE
- OTHER TYPE
- MARKET BY APPLICATION
- AUTOMOTIVE
- PASSENGER VEHICLES
- HEAVY DUTY VEHICLES
- OTHER VEHICLES
- INDUSTRIAL
- OTHER APPLICATIONS
- AUTOMOTIVE
- GEOGRAPHICAL ANALYSIS
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- VIETNAM
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA-PACIFIC
- ASIA-PACIFIC
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- BUSINESS EXPANSIONS & DIVESTITURES
- COMPANY PROFILES
- AFTON CHEMICAL CORPORATION
- ASIAN OIL COMPANY
- BASF SE
- BPT CHEMICAL CO LTD
- BRB INTERNATIONAL BV
- CHEVRON ORONITE COMPANY LLC
- CRODA INTERNATIONAL PLC
- ENI SPA
- EVONIK INDUSTRIES AG
- EXXON MOBIL CORPORATION
- INFINEUM INTERNATIONAL LIMITED
- JILIN XINGYUN CHEMICAL CO LTD
- JINZHOU KANGTAI LUBRICANT ADDITIVES CO LTD
- LUBRIZOL CORPORATION
- SANYO CHEMICAL INDUSTRIES LTD
- SHANGHAI MINGLAN CHEMICAL CO LTD
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – VISCOSITY INDEX (VI) IMPROVERS
TABLE 2: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 3: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 4: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 5: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY APPLICATION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 6: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY AUTOMOTIVE APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 7: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY AUTOMOTIVE APPLICATION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 9: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 10: LEADING PLAYERS OPERATING IN ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET
TABLE 11: LIST OF MERGERS & ACQUISITIONS
TABLE 12: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 13: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 14: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VENDOR LANDSCAPE
FIGURE 5: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, GROWTH POTENTIAL, BY TYPE, IN 2021
FIGURE 6: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY POLYMETHACRYLATE, 2022-2030 (IN $ MILLION)
FIGURE 7: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY OLEFIN COPOLYMER, 2022-2030 (IN $ MILLION)
FIGURE 8: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY POLYISOBUTYLENE, 2022-2030 (IN $ MILLION)
FIGURE 9: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY OTHER TYPE, 2022-2030 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021
FIGURE 11: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY AUTOMOTIVE, 2022-2030 (IN $ MILLION)
FIGURE 12: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, GROWTH POTENTIAL, BY AUTOMOTIVE APPLICATION, IN 2021
FIGURE 13: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY PASSENGER VEHICLES, 2022-2030 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY HEAVY DUTY VEHICLES, 2022-2030 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY OTHER VEHICLES, 2022-2030 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY INDUSTRIAL, 2022-2030 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, BY OTHER APPLICATIONS, 2022-2030 (IN $ MILLION)
FIGURE 18: ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 19: CHINA VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 20: JAPAN VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 21: INDIA VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 22: SOUTH KOREA VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 23: INDONESIA VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 24: THAILAND VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 25: VIETNAM VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 26: AUSTRALIA & NEW ZEALAND VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 27: REST OF ASIA-PACIFIC VISCOSITY INDEX (VI) IMPROVERS MARKET, 2022-2030 (IN $ MILLION)
- GEOGRAPHICAL ANALYSIS
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- VIETNAM
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA-PACIFIC
- ASIA-PACIFIC
- MARKET BY TYPE
- POLYMETHACRYLATE
- OLEFIN COPOLYMER
- POLYISOBUTYLENE
- OTHER TYPE
- MARKET BY APPLICATION
- AUTOMOTIVE
- PASSENGER VEHICLES
- HEAVY DUTY VEHICLES
- OTHER VEHICLES
- INDUSTRIAL
- OTHER APPLICATIONS
- AUTOMOTIVE
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We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.