A worldwide rise in disposable income accompanied by an increase in automobile demand is expected to drive market expansion in the near future at a CAGR of 6.80% during the forecast period 2023 - 2032

Market Research Future (MRFR) has published a“Global Viscosity Index Improvers Market”

MRFR recognizes the following companies as the key players in the global viscosity index improvers market— Evonik Industries, Lubrizol Corporation, Chevron Oronite Company LLC, Afton Chemical Corporation, Infineum International Limite, Sanyo Chemical Industries, Ltd., Nanjing Runyou Chemical industry Additive Co., Ltd., Shenyang Great Wall Lubricating Oil Manufacturing Co., Ltd., Jilin Xingyun Chemical, Shanghai High-Lube Additives, Bariyan Oil & Lubricants Pvt. Ltd., BPT Chemicals Co, Ltd, Brad-Chem Ltd, Chetas Biochem, Croda Lubricants, and Innov Oil.

Market Highlights

Viscosity Index Improvers Market Size was valued at USD 0.15 billion in 2022. The Viscosity Index Improvers market is projected to grow from USD 0.16 Billion in 2023 to USD 0.27 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2023 - 2032).

Automobile industry manufacturers are devising innovative techniques to prevent cold-start engine damage. Manufacturers in the automotive viscosity index improvers market are developing engine oils with nanoparticles to minimize engine damage. Increasingly, these engine lubricants are used in the light-duty automotive industry to achieve greater vehicle capability and efficiency than conventional engine oils.

Manufacturers are introducing nano lubricant engine lubricants with a combination of MWCNT (multi-wall carbon nanotubes) and ZnO (zinc oxide nanoparticles) in response to this growing trend. These nanoparticles substantially reduce viscosity, preventing engine damage caused by a cold start. On the other hand, manufacturers in the automotive viscosity index improvers market are developing new copolymer combinations, such as hydrogenated styrene-isoprene (HSD) copolymers, that improve thermal oxidation stability in vehicle engines. The increasing demand for HSD copolymers is driven by their stability and thickening capacity in long-lasting, multistage internal combustion engine oils.

Segment Analysis

The global viscosity index improvers market has been segmented based on type and end-user.

The market is segmented based on type: polymethacrylate, olefin copolymer, and polyisobutylene. The olefin copolymer segment was attributed to holding the largest market share in 2022.

Based on end-user, the global viscosity index improvers market has been segmented into manufacturing, food processing, mining, construction, and power generation. The manufacturing segment was expected to hold the largest market share in 2022.

Regional Analysis

The global viscosity index improvers market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe viscosity index improvers market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The viscosity index improvers market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World viscosity index improvers market comprises the Middle East, Africa, and Latin America.

In 2022, the North American market for viscosity index improvers will dominate this market. The automotive industry has expanded continuously. Increased sales of commercial vehicles, particularly light trucks and pick-up trucks used for short-distance commerce and logistics, are expected to increase the demand for automotive lubricants in the United States.

Europe held the second-largest market share for viscosity index improvers in 2022. REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) closely monitors the European lubricating oil market and provides guidelines for maintaining high environmental and human health protection against chemical hazards. Due to the introduction of stringent environmental regulations in the EU and the rising demand for lubricants in the European market, the market is anticipated to perform moderately in the coming years.

From 2023 to 2032, the Asia-Pacific viscosity index improvers market is expected to grow at the highest CAGR. Due to the rapid economic development of emerging nations and the rise in disposable income, the Asia-Pacific region is a lucrative market for the lubricating industry. The region's high lubricating oil consumption is predominantly attributable to the growth of industrial production, commerce, and the number of automobiles.

Current industrial growth in Latin America and the Middle East will contribute to the moderate expansion of the global viscosity index improver market.

Key Findings of the Study

• The global viscosity index improvers market is expected to reach USD 324.7 billion by 2032, at a CAGR of 6.80% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market in 2022. The Asia-Pacific market is anticipated to expand rapidly, primarily due to rising automotive demand and industrial investment, particularly in developing nations such as China and India.


• Based on type, the olefin copolymer segment was attributed to holding the largest market in 2022, with an approximate market share of 35–45%.


• Evonik Industries, Lubrizol Corporation, Chevron Oronite Company LLC, Afton Chemical Corporation, Infineum International Limite, Sanyo Chemical Industries, Ltd., Nanjing Runyou Chemical industry Additive Co., Ltd., Shenyang Great Wall Lubricating Oil Manufacturing Co., Ltd., Jilin Xingyun Chemical, Shanghai High-Lube Additives, Bariyan Oil & Lubricants Pvt. Ltd., BPT Chemicals Co, Ltd, Brad-Chem Ltd, Chetas Biochem, Croda Lubricants, and Innov Oil are some of the key market players.