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MARKET OUTLOOK 

As per Triton Market Research’s report, the viscosity index improvers market in North America is anticipated to develop with a CAGR of 2.70% during the forecast years from 2022 to 2028. The United States and Canada together form the market in this region.

Canada is the second-largest in the region in terms of lubricant consumption and is the fifth-largest automobile producer in the world. It manufactures nearly 2 million cars and light trucks every year, on an average, holding a significant share of global automotive production. The Canadian automotive industry integrated with the NAFTA (North American Free Trade Agreement) to enhance its manufacturing activities. 

There has been steady development in the automotive industry. Due to the rise in the sales of commercial vehicles, mainly light trucks and pick-up trucks for short-distance trading and logistics activities, the demand for automobiles in the country is estimated to bolster the demand for automotive lubricants. 

The development of the automotive industry in the future will consequently increase the consumption of viscosity index improvers in the industry over the projected period. Further, a rise in the production and export of chemicals & pharmaceuticals, along with the increase in manufacturing output, is expected to foster the demand for lubricant additives like viscosity index improvers.

COMPETITIVE OUTLOOK

The dominant players in the viscosity index improvers market are Jinzhou Kangtai Lubricant Additives Co Ltd, ENI SpA, Infineum International Limited, Jilin Xingyun Chemical Co Ltd, Asian Oil Company, Sanyo Chemical Industries Ltd, Croda International Plc, and BASF SE.