German oxo intermediates company OQ Chemicals launched a dedicated heptanoic acid production unit at its Oberhausen facility set to start up in June this year. Heptanoic acid is used in high-performance synthetic lubricants, offering enhanced oxidative stability, anti-wear and anti-corrosion properties.
Spanish chemical distributor Lumar Química opened a subsidiary in Mexico City, according to the Ministry of Enterprise and Labor, with an aim to gain presence in the local market and export to other countries on the continent. The company was founded in 1994 in Barcelona and has a staff of 28 people in Italy, France and Germany. It has had a distribution presence in North Africa.
Demand for industrial lubricants is set to grow, according to market research company Persistence. The global industrial lubricants market is projected to grow to U.S.$31.3 billion by 2030 from the current $22.7 billion, says the company.