Afton Chemical, which operates as a subsidiary of NewMarket Corporation, develops, manufactures, and supplies petroleum additives. The company manufactures and sells fuel additives under the petroleum additives segment. Its fuel additives include performance fuels and refinery chemicals, such as gasoline performance, diesel fuel additives, stabilizers, corrosion inhibitors, as well as cetane, lubricity, and cold flow improvers.
The company has research facilities in Richmond, Virginia, as well as Bracknell, England; manufacturing and blending facilities in North America, Latin America, and Europe; and an R&D laboratory in Suzhou, China. The company also has operations in the Asia-Pacific, the Middle East, and Africa. The main competitors include BASF SE (Germany), Chevron Oronite Company LLC (U.S.), and The Lubrizol Corporation (U.S.).
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In July 2012, Afton Chemical Corporation announced the construction of a new chemical additive manufacturing facility at Jurong Island, Singapore. The multi-year investment was to be fully-owned and operated by Afton, thereby enabling the company to enter into the rapidly-growing Asia-Pacific market.
In addition to this, in May 2010, Afton Chemical Corporation acquired Polartech (Massachusetts, U.S.). With the acquisition of Polartech, a metalworking additives company, Afton strengthened its industrial product portfolio with the latter’s premier metalworking fluid additive technology. It also helped the company in expanding its operations across India and China.
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The major participants operating in the Global diesel additives market are Afton Chemical (U.S.), Albemarle Corp. (U.S.), Chevron Oronite (U.S.), Infineum International Inc. (U.K.), Fuel Performance Solutions, Inc. (U.S.), and The Lubrizol Corporation (U.S.), among others.
