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Outlook on the Viscosity Index Improvers Asia-Pacific Industry to 2028 - Increasing Consumption of Engine Oils Presents Opportunities

·4-min read

Dublin, Dec. 21, 2021 (GLOBE NEWSWIRE) -- The "Asia-Pacific Viscosity Index Improvers Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The viscosity index improvers market in Asia-Pacific is expected to rise with a CAGR of 3.24% over the forecast years from 2022 to 2028. India, South Korea, China, Japan, Australia & New Zealand, ASEAN countries, and Rest of Asia-Pacific together shape the market in this region.

Japan is the fifth-largest lubricant consumer in the world. In the past two years, the growth in the industry has slowed down, primarily because of a drastic drop in the production and sale of motor vehicles, along with a stagnant industrial output and sluggish rise in domestic demand. However, with the increasing investment by the government in the automotive, energy, and construction sectors, the demand for lubricants, and, in turn, for viscosity index improvers, is expected to rise in the forthcoming years.

The automotive industry in Japan is among the largest and renowned automotive industries around the globe. This is mainly due to the large investment made in this sector. The Japanese auto industry manufactures the third-largest number of vehicles, globally. It manufactured nearly 972,8528 vehicles in 2018. In addition, the nation is home to some of the major automobile producers, such as Yamaha, Kawasaki, Honda, Toyota, Suzuki, Nissan, etc. The production and sales of vehicles are anticipated to rise in the forecast period. This will positively influence the demand for viscosity index improvers, in turn, offering growth avenues to the market.

Competitive Outlook

The leading players in the viscosity index improvers market include Afton Chemical Corporation, Asian Oil Company, BASF SE, Jilin Xingyun Chemical Co Ltd, BRB International BV, ENI SpA, Sanyo Chemical Industries Ltd, and Croda International Plc.

Key Topics Covered:

1. Asia-Pacific Viscosity Index Improvers Market - Summary

2. Industry Outlook
2.1. Key Market Strategies
2.1.1. Acquisitions
2.1.2. Product Developments
2.1.3. Contracts & Agreements
2.1.4. Investments & Expansions
2.2. Impact of Covid-19 on the Viscosity Index Improvers Industry
2.3. Porter's Five Forces Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitute
2.3.3. Bargaining Power of Buyers
2.3.4. Bargaining Power of Suppliers
2.3.5. Threat of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Market Drivers
2.6.1. Emergence of the Asia-Pacific as a Manufacturing Hub
2.6.2. Rise in the Demand for Lubricants
2.7. Market Challenges
2.7.1. Longer Drain Intervals for High-Grade Lubricants
2.7.2. Cost Constraints
2.8. Market Opportunities
2.8.1. Automotive Production Growth in the Asia-Pacific and Europe
2.8.2. Increasing Consumption of Engine Oils

3. Asia-Pacific Viscosity Index Improvers Market Outlook - by Product Type
3.1. Polymethacrylate
3.2. Olefin Copolymer
3.3. Polyisobutylene
3.4. Other Product Type

4. Asia-Pacific Viscosity Index Improvers Market Outlook - by End-User
4.1. Automotive
4.1.1. Passenger Vehicles
4.1.2. Heavy-Duty Vehicles
4.1.3. Other Vehicles
4.2. Industrial
4.3. Other End-Users

5. Asia-Pacific Viscosity Index Improvers Market - Regional Outlook
5.1. China
5.2. Japan
5.3. India
5.4. South Korea
5.5. Asean Countries
5.6. Australia & New Zealand
5.7. Rest of Asia-Pacific

6. Competitive Landscape
6.1. Afton Chemical Corporation
6.2. Basf Se
6.3. Chevron Oronite Company LLC
6.4. Evonik Industries AG
6.5. Bpt Chemical Co Ltd
6.6. Lubrizol Corporation
6.7. Infineum International Limited
6.8. Sanyo Chemical Industries Ltd
6.9. Croda International plc
6.10. Brb International Bv
6.11. Jinzhou Kangtai Lubricant Additives Co Ltd
6.12. Shanghai Minglan Chemical Co Ltd
6.13. Jilin Xingyun Chemical Co Ltd
6.14. Exxon Mobil Corporation
6.15. Eni Spa
6.16. Asian Oil Company

7. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/eftizz

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