BASF, Afton and Fuchs are investing in growth across the region.
With Asia contributing to the majority of the increase of global lubricants demand, producers, along with additive and chemicals manufacturers, are significantly increasing their investment in the region.
BASF has inaugurated its new speciality production plant for amines in Nanjing, China, in order to respoind to specific customer demands across the entire Asia Pacific region. The high quality DMAPA and PEA products produced at the facility will have a wide range of applications covering construction, wind energy, coatings and personal care.
UK-headquartered additives producer Afton Chemicals has also announced the opening of a new plant on Jurong Island, Singapore, which will produce engine oil additives to meet regional demands. The opening is the second this year for Afton and forms a core part of the firm's 'Made in Asia for Asia' strategy.
Fuchs has also revealed plans to open a new blending plant in Suzhou, China, which wil replace a smaller blending plant currently running in Shanghai. The Austrian producer expects the new plant to come online in 2018, according to Lubes 'n' Greases magazine.
According to Grand View Research the global lubricants market is set to hit $18.5bn by 2024. Increasingly stringent regulations will also buoy demand for additives products.