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Lubricant viscosity grade improvers are essential additives used to enhance the viscosity characteristics of lubricants, ensuring optimal performance under varying temperature conditions. These additives play a crucial role in maintaining the efficiency and longevity of engines and machinery. In this article, we highlight the top 10 companies leading the lubricant viscosity grade improvers market, providing insights into their headquarters, growth rates, and recent revenues.
The latest research study on the global Lubricant Viscosity Grade Improvers market finds that the global Lubricant Viscosity Grade Improvers market reached a value of USD 2722.93 million in 2023. It’s expected that the market will achieve USD 3029.69 million by 2030, exhibiting a CAGR of 1.54% during the forecast period.
Global Growth Insights unveils the top Global Lubricant Viscosity Grade Improvers Companies:
1. NewMarket Corporation
Headquarters: Richmond, Virginia, USA
CAGR: 5.5%
Revenue (Past Year): $2.2 billion
NewMarket Corporation, through its Afton Chemical subsidiary, is a global leader in the production of lubricant additives, including viscosity grade improvers. Their innovative products enhance the performance and reliability of lubricants, ensuring optimal engine efficiency.
2. Evonik Industries
Headquarters: Essen, Germany
CAGR: 5.8%
Revenue (Past Year): $15 billion
Evonik Industries is a major player in the specialty chemicals sector, offering advanced lubricant additives. Their viscosity grade improvers are designed to provide superior performance and stability, making them a preferred choice in the automotive and industrial sectors.
3. Shengyang Greatwall Lubricant
Headquarters: Shenyang, China
CAGR: 6.1%
Revenue (Past Year): $1.1 billion
Shengyang Greatwall Lubricant is a leading Chinese manufacturer of lubricant additives, including viscosity grade improvers. Their high-quality products are used in various applications, ensuring efficient and reliable engine performance.
4. Chevron Oronite
Headquarters: San Ramon, California, USA
CAGR: 5.7%
Revenue (Past Year): $3.0 billion
Chevron Oronite is a global leader in the development and manufacture of fuel and lubricant additives. Their viscosity grade improvers are designed to enhance the performance and longevity of lubricants, ensuring optimal engine efficiency under diverse operating conditions.
5. Infineum International Limited
Headquarters: Abingdon, UK
CAGR: 5.9%
Revenue (Past Year): $2.5 billion
Infineum is a leading provider of petroleum additives, including viscosity grade improvers. Their innovative products are used to enhance the performance of lubricants, ensuring efficient operation and protection of engines and machinery.
6. The Lubrizol Corporation
Headquarters: Wickliffe, Ohio, USA
CAGR: 6.0%
Revenue (Past Year): $6.5 billion
The Lubrizol Corporation, a subsidiary of Berkshire Hathaway, is a global leader in specialty chemicals, including lubricant additives. Their viscosity grade improvers are designed to provide superior performance and protection, making them a preferred choice for various applications.
7. BASF SE
Headquarters: Ludwigshafen, Germany
CAGR: 5.6%
Revenue (Past Year): $67.2 billion
BASF SE is a leading chemical company, offering a wide range of lubricant additives, including viscosity grade improvers. Their innovative products ensure optimal performance and efficiency of lubricants, contributing to the longevity of engines and machinery.
8. Croda International Plc
Headquarters: Snaith, UK
CAGR: 5.4%
Revenue (Past Year): $2.0 billion
Croda International Plc specializes in the production of high-performance additives, including viscosity grade improvers. Their products are designed to enhance the performance and stability of lubricants, ensuring efficient operation of engines and industrial machinery.
9. Lanxess AG
Headquarters: Cologne, Germany
CAGR: 5.5%
Revenue (Past Year): $8.0 billion
Lanxess AG is a global leader in specialty chemicals, offering advanced lubricant additives. Their viscosity grade improvers are designed to provide superior performance and protection, ensuring the efficiency and reliability of lubricants in various applications.
10. Vanderbilt Chemicals, LLC
Headquarters: Norwalk, Connecticut, USA
CAGR: 5.3%
Revenue (Past Year): $500 million
Vanderbilt Chemicals, LLC specializes in the development and manufacture of high-performance additives, including viscosity grade improvers. Their innovative products are used to enhance the performance and stability of lubricants, ensuring optimal engine efficiency.
Conclusion
The lubricant viscosity grade improvers market is essential for enhancing the performance and efficiency of lubricants used in engines and machinery. The top 10 companies highlighted in this article are leading the way in providing innovative and high-quality viscosity grade improvers that meet the specific needs of various applications. As the demand for efficient and reliable lubricants continues to grow, these companies are well-positioned to drive future advancements and set new standards in the industry.