Chinese consumers’ rapid adoption of electric vehicles offers opportunities for suppliers of transmission fluids to meet the changing requirements of evolving EV powertrains, industry exports said at a recent conference.

Innov Oil announced completion of an expansion that more than doubles its capacity to produce the company’s X series of viscosity modifiers at its plant in Singapore. The company said it is experiencing growing demand for the chemicals as lubricants markets trend toward products that maintain viscosity over wide operating temperatures.

The impacts of soaring raw material prices and lockdowns due to the COVID-19 pandemic hindered second-quarter profits for Japan’s Yushiro Chemical and KH Neochem’s performance materials segment. Yushiro said this was despite revised sale prices, while KH Neochem noted rising logistics costs as another key factor.