Viscosity Index Improvers Market To Reach $4,282.7 Million By 2033

Viscosity Index Improvers Market Growth & Trends

The global viscosity index improvers market size is anticipated to reach USD 4,282.7 million by 2033, growing at a CAGR of 4.7% from 2025 to 2033, according to a new report by Grand View Research, Inc. The market growth is driven by the growing demand for high-performance lubricants across automotive and industrial sectors. Modern engines and machinery operate under extreme temperature and pressure conditions, requiring lubricants that maintain optimal viscosity to ensure efficient performance and component protection.

Viscosity index improvers help stabilize lubricant viscosity across varying temperatures, reducing wear and improving fuel efficiency. The increasing production of passenger and commercial vehicles, combined with stricter emission and efficiency standards, has accelerated the use of advanced VIIs such as polymethacrylates (PMA) and hydrogenated styrene-diene copolymers (HSD) in engine oils, transmission fluids, and hydraulic lubricants.

This driver is massively amplified by the escalating impacts of climate change and stringent environmental regulations. Soils are critical carbon sinks, and there is growing pressure and incentives to manage them in a way that mitigates climate change through carbon sequestration. Furthermore, governments worldwide are implementing policies that reward sustainable farming and penalize practices that cause nutrient runoff into waterways. Consequently, farmers are increasingly adopting viscosity index improvers not just to improve yields, but also to build resilience against droughts and floods, meet regulatory standards, and access new revenue streams through carbon credit markets.

Hydrostyrene Diene Copolymer (HDO) products segment is anticipated to grow the fastest at a CAGR of 7.6% from 2025 to 2033. The market valued for their exceptional thermal stability, weather resistance, and elasticity, making them suitable for demanding applications. They maintain performance across a wide temperature range and provide excellent UV and moisture resistance, supporting long-term durability.

Electric vehicles (EV) fluids segment is anticipated to grow the fastest with a CAGR of 18.3% from 2025 to 2033. This driven by the rapid global shift toward sustainable mobility. EVs require specialized e-transmission and thermal management fluids that ensure efficient heat dissipation, electrical insulation, and reduced friction losses under varying temperatures.

The Asia Pacific viscosity index improvers market accounted for the largest revenue share of 46.2% in 2024. The driven by its strong automotive manufacturing base and expanding industrial lubricant demand. Countries such as China, India, Japan, and South Korea are major consumers, supported by rising vehicle production, infrastructure development, and industrialization. 

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Viscosity Index Improvers Market Report Highlights

• Based on product, polymethacrylater (PMA) segment accounted for the largest revenue share of 46.2% in 2024. This growth is due to its excellent thickening efficiency, shear stability, and thermal resistance. PMA-based VIIs are widely used in engine oils, hydraulic fluids, and transmission lubricants to ensure consistent viscosity across broad temperature ranges.

• Based on application, the engine oils segment accounted for the largest revenue share of 50.0% in 2024. With the automotive industry’s focus on reducing emissions and improving engine performance, advanced VIIs such as polymethacrylates (PMAs) and hydrogenated styrene-diene copolymers (HSDs) are increasingly used in synthetic and semi-synthetic oils.

• North America is expected to grow at the fastest CAGR of 5.7% from 2025 to 2033. This growth is supported by a strong presence of leading lubricant and additive manufacturers. The demand is largely driven by the U.S., where high-performance engine oils and industrial lubricants are widely used across automotive, energy, and manufacturing sectors.

Viscosity Index Improvers Market Segmentation

Grand View Research has segmented the global viscosity index improvers market based on product, application, and region:

Viscosity Index Improvers Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Polymethacrylater (PMA)

• Ethylene Propylene Copolymer (OCP)

• Hydrostyrene Diene Copolymer (HSD)

• Polyisobutylene (PIB)

• Other Product (if any)

Viscosity Index Improvers Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Engine Oils

• Transmission Fluids

• Hydraulic Fluids

• Gear Oils

• Electric Vehicle (EV) Fluids

• Other Applications

Viscosity Index Improvers Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Viscosity Index Improvers Market

• BASF SE

• Chevron Oronite Company LLC

• Evonik Industries AG

• Afton Chemical Corporation

• The Lubrizol Corporation

• Sanyo Chemical Industries

• Akzo Nobel N.V.

• LANXESS AG

• Mitsui Chemicals, Inc.

• Petronas

• Para Lubricants Ltd.

• Akzo Nobel N.V.

• Sika AG