Viscosity Index Improvers Market Size

The Viscosity Index Improvers (VI improvers) market is made up of several important market forces that end up being one of the main elements that determines the market's dynamics. Specificly, the industry of automotive is always changing. With the increasing technical level of engines, engines should be able to work under different conditions of which lubricants with enhanced viscosity should be created. This need especially forces the manufactures to make the VI improvers by adding the additive, which is a substance enhancing the viscosity index of lubricating oils.

Viscosity Index Improvers Market Size amounted to US$ 0.15 bln in 2022. The Viscosity Index Improvers segment is estimated to see a CAGR of 6.80% from USD 0.16 billion in 2032 to USD 0.27 billion in 2032.

Besides international economic trends, global economical state have problems with the VI improvers market. Economic growth, industrial intensification, and construction drive the growth of lubricants demand in different areas of activity, including manufacturing, construction, and transport. Increasing production volume of the industries, in turns, leads to the need for advanced lubricants, which leads to viscosity index improvers market growth.

Similarly, the environmental regulation and sustainability issues are other crucial determinants that hamper the growth of VI improvers market. Strict environmental regulations make manufacturers look for lubricants with improved fuel economic properties and minimized emissions. Viscosity index improvers provide a solid ground for reaching those goals by stabilizing lubrication oils through a wide temperature range while keeping the necessary engine performance and maintaining a reduced environmental footprint.

Likewise, technological advancements serve as complementary reasons for the development of the VI improvers sector. Continuous research in the development of polymers and additives assists in achieving better effectiveness levels of VI improvers. Companies continuously work on new products which on the one hand meet industry standards but on the other raise the requirements such as the long-life oil change or year-by-year engine developments.

The competition in the VI improvers industry is a key catalyst in its dynamism. That trend of increasing players in a market prompts the manufacturers to distinguish their products in terms of quality, performance, and cost-effectiveness. Therefore, this competitive landscape encourages the development of innovative VIP formulations by introducing new and modern viscosity index improver products. Market players may constantly link up with OEMs and rely on tactical partnerships to increase their market share and to supply custom solutions for different industries.