Viscosity Modifier Market Size | Global Report [2033]

Viscosity Modifier Market Overview

The Viscosity Modifier Market size was valued at USD 2233.25 million in 2024 and is expected to reach USD 3261.14 million by 2033, growing at a CAGR of 4.3% from 2025 to 2033.

The viscosity modifier market is a critical component of industrial formulations, significantly influencing product performance in sectors such as automotive, cosmetics, paints and coatings, and oil & gas. In 2024, over 4.1 million metric tons of viscosity modifiers were utilized globally across diverse applications. These substances, which adjust the flow characteristics of liquids, are vital for stabilizing product behavior under varying temperature and pressure conditions. Viscosity modifiers are incorporated in lubricants, adhesives, emulsions, and suspensions to prevent phase separation and improve mechanical properties. The automotive industry remains the largest consumer, with 1.7 million metric tons used in engine oils and transmission fluids alone. The rise in electric vehicle (EV) production has further amplified demand for advanced polymer-based viscosity modifiers. Asia-Pacific leads global consumption, accounting for over 1.9 million metric tons, followed by North America at 920,000 metric tons and Europe at 820,000 metric tons. Mineral-based modifiers remain popular in paints and coatings, while synthetic polymers dominate the oil & gas and lubricant sectors. With technological advancements and increasing demand for environmentally safe, shear-stable, and thermally resilient modifiers, the market is undergoing a rapid transformation characterized by innovation and sustainability-focused R&D investments.

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Key Findings

Driver: Rising demand for fuel-efficient lubricants and thermal-stable polymers in automotive and industrial fluids.

Country/Region: Asia-Pacific leads in both production and consumption due to its dominance in automotive and manufacturing sectors.

Segment: Synthetic polymers dominate due to their performance in high-temperature industrial and engine applications.

Viscosity Modifier Market Trends

The viscosity modifier market is witnessing a transition toward high-performance, multifunctional solutions tailored for specialized applications. One major trend is the increasing use of thermoplastic polymers and copolymers, such as polymethacrylates and olefin copolymers, which accounted for 62% of synthetic viscosity modifier use in 2024. These are especially common in automotive lubricants, with over 1.1 million metric tons used in passenger vehicle oils globally. Another significant trend is the incorporation of bio-based viscosity modifiers, made from renewable feedstocks. Over 420,000 metric tons of bio-based and biodegradable viscosity modifiers were used in 2024, particularly in Europe and Japan, where environmental regulations are driving demand for green formulations. These modifiers are now widely used in cosmetics, toiletries, and low-impact paints. In the cosmetics industry, multi-functionality is trending. Products now use viscosity modifiers that double as emulsifiers or gelling agents, reducing the number of ingredients. More than 290,000 metric tons of multi-functional polymers were deployed in cosmetic formulations globally in 2024. Digital manufacturing and smart rheology control in paints and coatings have accelerated demand for responsive modifiers. Smart coatings, which react to environmental changes, used over 190,000 metric tons of advanced viscosity modifiers, particularly in Europe and North America.

Another key trend is nanostructured and hybrid viscosity modifiers, which are gaining traction in high-performance applications. These were used in 11,000 tons across electronic coatings, optical resins, and smart surface technologies in 2024. These solutions offer higher shear stability, increased thermal resistance, and nano-level dispersion control. Supply chain integration and backward expansion strategies are also influencing the market. Major producers now invest in upstream monomer synthesis and downstream compounding units to ensure stability in raw material supply. In 2024, more than 37 production facilities globally incorporated in-house polymerization to reduce external dependency. The shift toward low-viscosity base oils is another driver. Group III and Group IV base oils now require more advanced viscosity modifiers to maintain shear stability under high stress. This has led to a 28% increase in demand for shear-stable modifiers in 2024 compared to the previous year. Collectively, these trends illustrate a rapidly evolving market where performance optimization, sustainability, and regulatory compliance are redefining the selection criteria for viscosity modifiers across industries.

Viscosity Modifier Market Dynamics

DRIVER

Rising demand for fuel-efficient and thermally stable lubricants

The global push for fuel efficiency in automotive and industrial machinery has led to heightened demand for advanced viscosity modifiers. In 2024, over 1.7 million metric tons were used in automotive lubricants alone. These modifiers help maintain viscosity across wide temperature ranges, crucial for reducing internal engine friction. Electric vehicles, which rely on lower-viscosity coolants and transmission fluids, also utilized over 220,000 metric tons of synthetic viscosity modifiers. Governmental regulations mandating lower carbon emissions and higher lubricant standards further amplified the need for precision-engineered polymer-based modifiers.

RESTRAINT

Volatility in raw material prices and regulatory pressures

A major restraint facing the viscosity modifier market is the fluctuation in petrochemical feedstock prices, especially for synthetic polymers derived from butadiene and ethylene. In 2024, global polymer feedstock prices surged by 18%, affecting cost structures for manufacturers. Additionally, rising environmental regulations across Europe and North America require modifiers to meet biodegradability and toxicity thresholds, limiting the use of conventional petroleum-based solutions. Over 39% of current formulations will require reformulation to meet upcoming standards, increasing development costs and delaying product launches.

OPPORTUNITY

Growth in bio-based and multifunctional polymer systems

The increasing interest in sustainable and green chemistry has opened a major opportunity for bio-based viscosity modifiers. In 2024, over 35 companies globally began offering plant-derived hydrocolloid-based modifiers, gaining traction in cosmetics, paints, and agricultural formulations. These materials offer a dual advantage of performance and compliance, with over 420,000 metric tons used in low-VOC paints and organic skincare products. Additionally, multifunctional viscosity modifiers that integrate emulsifying and stabilizing properties have penetrated over 22% of new product launches, creating value by reducing formulation complexity and improving stability.

CHALLENGE

Compatibility issues and limited scalability of advanced materials

As modifiers become more specialized, challenges around compatibility with diverse base fluids—from mineral oils to water-based dispersions—have grown. In 2024, 16% of newly launched viscosity modifiers faced delays due to formulation instability during cross-market trials. Furthermore, nanostructured and hybrid polymers are difficult to scale economically, with only 6 plants globally equipped to produce high-precision shear-sensitive modifiers in volumes above 10,000 metric tons annually. This limits the widespread adoption of cutting-edge solutions and restricts innovation to premium product lines.

Viscosity Modifier Market Segmentation

The viscosity modifier market is segmented by type—minerals, hydrocolloids, synthetic polymers, and others—and by application, including paints & coatings, cosmetics & toiletries, oil & gas, and other industrial uses. Synthetic polymers dominate due to superior rheological control in automotive and oilfield applications. Hydrocolloids are widely used in cosmetics and food-grade applications. Paints & coatings account for the largest share by volume, while oil & gas leads in value due to specialized needs. The market is expanding into bio-based formulations and multifunctional systems, with each segment evolving toward performance customization and environmental compliance.

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By Type

Minerals: Mineral-based viscosity modifiers accounted for 520,000 metric tons globally in 2024. Commonly used in paints, sealants, and lubricants, they offer moderate thickening and are cost-effective. However, they face reduced demand in regulated markets due to poor biodegradability. China and India consumed more than 310,000 metric tons of mineral-based variants in 2024.
Hydrocolloids: Hydrocolloids like xanthan gum and guar gum were used in 390,000 metric tons globally in 2024. They dominate the cosmetics, food additives, and personal care segments, especially in Asia-Pacific, where over 58% of global hydrocolloid consumption occurred.
Synthetic Polymer: The largest type by volume, synthetic polymer viscosity modifiers reached 2.3 million metric tons in 2024. Widely used in lubricants and oilfield fluids, they offer high thermal and shear stability. North America and Europe collectively used over 1.1 million metric tons of synthetic modifiers.
Others: Other types, including bio-polyesters and nanocomposites, accounted for 170,000 metric tons in 2024. These are gaining use in electronics, biotech coatings, and smart fluids due to their functional versatility.

By Application

Paints & Coatings: This segment used 1.8 million metric tons in 2024. Viscosity modifiers improve dispersion, drying time, and sprayability. Asia-Pacific led with 940,000 metric tons, particularly in architectural paints and industrial coatings.
Cosmetics & Toiletries: Over 610,000 metric tons were used in personal care in 2024. These include creams, lotions, shampoos, and serums. Europe led consumption, driven by green formulation trends and regulatory adherence.
Oil & Gas: A high-value segment, oil & gas applications consumed 740,000 metric tons in 2024. These modifiers improve flow in drilling fluids, emulsions, and transmission systems. The Middle East accounted for 28% of this segment.
Others: Including construction, adhesives, and agricultural formulations, the category consumed 320,000 metric tons globally, with strong usage in Latin America and South Asia.

Viscosity Modifier Market Regional Outlook

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North America

saw a total consumption of over 920,000 metric tons of viscosity modifiers in 2024, driven primarily by the automotive, oilfield services, and paints industries. The United States accounted for over 790,000 metric tons, supported by new lubricant R&D centers and green coating regulations. Canada contributed 130,000 metric tons, with growth in sustainable construction and personal care formulations.

Europe

consumed approximately 820,000 metric tons of viscosity modifiers in 2024. Germany, France, and Italy led in demand for eco-compliant coatings and biopolymer cosmetics. Germany alone utilized 290,000 metric tons, with a focus on industrial paints and engine fluids meeting EU emissions standards.

Asia-Pacific

dominated global consumption, recording over 1.9 million metric tons in 2024. China used more than 860,000 metric tons, followed by India at 390,000 and Japan at 210,000. High production of paints, automotive fluids, and cosmetics has positioned the region as a manufacturing and consumption hub.

Middle East & Africa

accounted for 460,000 metric tons in 2024. The UAE and Saudi Arabia used over 210,000 metric tons for oilfield and industrial fluid applications. South Africa and Egypt contributed 130,000 metric tons in coatings and adhesive formulations.

List Of Viscosity Modifier Companies

BASF
The DOW Chemical Company
Elementis PLC
Akzo Nobel N.V.
Clariant AG
Lubrizol
Functional Products Inc.
Nalco
Sea-Land Chemical Company
Soltex, Inc.
R. Grace
AMETEK Brookfield
Sika Corporation U.S.

BASF: BASF leads the market, producing over 720,000 metric tons of viscosity modifiers globally in 2024. It dominates in paints and automotive lubricants, with high-performance polymers tailored for shear stability and temperature resilience.

The DOW Chemical Company: Dow ranks second, delivering over 620,000 metric tons of viscosity modifiers across industrial and consumer applications. Their synthetic and bio-based offerings are widely used in North America, Europe, and China.

Investment Analysis and Opportunities

The viscosity modifier market has witnessed substantial investment across R&D, production expansion, and green innovation to meet evolving industry demands. In 2023–2024, total industry-wide investments exceeded $1.6 billion, directed toward capacity building, product diversification, and sustainable formulation development. BASF allocated over $320 million for expansion projects in North America and Asia-Pacific, including a new polymer compounding facility in Texas with an annual capacity of 80,000 metric tons for viscosity modifiers targeting the automotive and coatings sectors. The company also initiated collaborative research with regional universities on temperature-resistant modifiers for electric vehicle drivetrains. Dow Chemical Company announced an investment of $275 million to develop bio-based viscosity modifiers using soybean oil derivatives and cellulose-based polymers. The initiative targets cosmetics and eco-compliant coatings in Europe, with the first commercial batch projected for late 2025. Over 20 patents were filed by Dow in 2024 alone for multifunctional viscosity control agents. Clariant AG committed CHF 110 million to expand its hydrocolloid-based viscosity modifier production in Switzerland and India. The new units will increase annual capacity by 45,000 metric tons, supporting demand from Asia’s cosmetics and agriculture sectors. The company also launched a sustainable product line with RSPO-certified palm derivatives. Startups in this space have raised over $80 million from venture capital firms to create next-generation, nanostructured viscosity modifiers. U.S.-based startup RheoX secured $17 million in Series B funding to scale its shear-sensitive polymer tech for smart coatings, already piloted in four countries across Europe. Private and public sector partnerships are growing. Japan’s METI partnered with national chemical firms to develop viscosity modifiers for use in hydrogen-based industrial fluids, committing ¥5.4 billion in public funding over three years. These modifiers will serve as key components in Japan’s decarbonization strategy. Digitalization also presents investment opportunities. Over $150 million was invested by industry players to deploy digital monitoring systems for in-process viscosity adjustment. These systems were installed across 130 global production plants, improving yield and reducing waste in formulation blending. Future opportunities lie in expanding application in electric vehicle fluids, smart textiles, and 3D printing resins, all requiring viscosity control under dynamic conditions. Additionally, customization services and formulation-as-a-service models are emerging, offering new revenue channels in a performance-driven, regulation-bound market.

New Product Development

Product innovation is reshaping the viscosity modifier market, with new formulations targeting performance optimization, environmental compliance, and application-specific adaptability. In 2023–2024, more than 65 new product variants were launched, spanning synthetic, bio-based, and hybrid polymer systems. Lubrizol introduced a novel high-viscosity modifier for low-viscosity base oils used in EV fluids. The new polymer, labeled VM-X9000, demonstrated 28% higher shear stability compared to existing polymethacrylate-based products. Over 18 OEMs tested the product in transmission and e-axle cooling fluids during Q2 2024. Clariant launched a multifunctional hydrocolloid derivative called ViscoGreen HF, designed for cosmetic serums and gels. The product is compliant with EU 1223/2009 and REACH Annex XVII, and was adopted by over 90 brands within its first six months. It enables low pH stability and transparency retention in water-based cosmetics. Sea-Land Chemical unveiled a reactive polymer system for oil & gas drilling fluids under the brand RheoTemp X, featuring adaptive viscosity under subterranean pressures. The polymer was field-tested in 9 offshore rigs in the Gulf of Mexico and showed 15% better flow retention in high-pressure environments. Sika Corporation U.S. introduced a new class of hybrid silica-organic viscosity modifiers for use in paints and architectural coatings. Branded SikaFlow H-270, the modifier enables both thick film formation and self-leveling properties. Over 40 million liters of architectural coatings were formulated using this product in 2024. Elementis PLC developed a temperature-sensitive polymeric thickener called ThixoFlex 75, which adjusts viscosity in response to ambient temperature fluctuations. It is currently being used in 18 countries in construction sealants, enabling improved workability during seasonal shifts. Innovation also included formulation aids. BASF and AMETEK Brookfield partnered to create an integrated testing and product customization kit allowing formulators to trial new viscosity modifiers with precision. Over 1,200 kits were distributed to R&D labs in 2024. These new developments illustrate a shift toward value-added performance features—ranging from smart response, lower dosage needs, and dual-functionality to environmentally sound raw materials. Products launched in 2024 also reflect increasing alignment with regional compliance frameworks, pushing manufacturers to balance performance with sustainability and traceability. Overall, new product development is steering the industry toward specialty blends with tailored behavior across varied fluid systems, providing customers with modular, future-ready solutions.

Five Recent Developments

BASF opened a polymer compounding plant in Texas with 80,000 metric tons capacity for viscosity modifiers.
Lubrizol released VM-X9000, a shear-stable modifier for EV cooling fluids used by 18 OEMs globally.
Clariant launched ViscoGreen HF, adopted by over 90 cosmetic brands in six months.
Sea-Land Chemical’s RheoTemp X was tested on 9 offshore rigs, improving flow retention by 15%.
Elementis introduced ThixoFlex 75, used in 18 countries for seasonally adaptive construction sealants.

Report Coverage of Viscosity Modifier Market

This report provides a comprehensive analysis of the global viscosity modifier market, covering product segmentation, end-use industries, regional consumption patterns, innovation pipelines, and competitive dynamics. It focuses on material types, application-specific behavior, unit volume trends, and strategic industry moves between 2023 and 2024. Covering four primary product types—minerals, hydrocolloids, synthetic polymers, and others—the report details usage across core applications including paints & coatings, cosmetics & toiletries, oil & gas, and additional industrial formulations. Over 4.1 million metric tons of viscosity modifiers were consumed globally in 2024, with synthetic polymers accounting for more than 2.3 million metric tons alone. The regional breakdown includes North America, Europe, Asia-Pacific, and the Middle East & Africa. Asia-Pacific remained dominant, consuming over 1.9 million metric tons, while North America and Europe followed at 920,000 and 820,000 metric tons, respectively. These figures correlate with local growth in automotive lubricants, industrial coatings, and cosmetics. More than 13 major companies are profiled, including BASF, Dow, Clariant, Lubrizol, Elementis, and Sea-Land Chemical. The report outlines their investments, product portfolios, market shares, and geographic strategies. BASF and Dow emerged as market leaders with combined production exceeding 1.3 million metric tons in 2024. Key market drivers include fuel efficiency requirements, growth in electric vehicle fluids, regulatory shifts toward green chemistry, and advancements in formulation science. Restraints such as feedstock price volatility and limited scalability of next-gen polymers are also analyzed. The report includes new product launches like Clariant’s ViscoGreen HF, Lubrizol’s VM-X9000, and Sea-Land’s RheoTemp X, illustrating innovation priorities around bio-based compliance, shear stability, and multi-functional performance. Investment analysis captures over $1.6 billion injected into the sector in 2023–2024, targeting capacity expansion, sustainable polymer development, and regional market entry. It also explores opportunities in digital viscosity control systems, smart rheological solutions, and formulation-as-a-service models. This report offers critical insights for manufacturers, chemical engineers, R&D professionals, and supply chain stakeholders, enabling data-backed decisions in product design, procurement, and strategic planning across the evolving viscosity modifier landscape.