Afton Chemical Corp. (Richmond, Va.) will invest in Gasoline Performance Additives (GPA) blending capabilities at its Singapore Chemical Additive Manufacturing Facility.
The demand for GPA in Asia Pacific is expected to grow at a compound annual growth rate of 4% through 2024. “The additional GPA blending capacity in Singapore will help satisfy the increase in demand driven by the expected growth in China and other parts of Asia”, said Mr. Sean Spencer, Vice President and Managing Director of Afton Chemical Asia.
Afton has invested approximately $400 million in the Singapore Chemical Additive Manufacturing Facility. The decision to continue Phase 3 investment is due to the integrated petrochemical hub in Singapore and trade connectivity to all parts of Asia and the Middle East. The Singapore government and Economic Development Board has been providing strong support to Afton from the start of its “Made In” investment in the region.
The new blending unit will be operational by the fourth quarter of 2021 and designed to comply with Quality, Environmental and Occupational Health and Safety Assessment and all applicable regulations. This investment complements the blending and terminal operations in the Americas and Europe.
Afton is a global market leader in performance additive technology for fuels. Afton’s GPA solutions help fuels burn cleaner and more efficiently, enabling engines to perform as designed during their equipment lifetime on fuel economy, power and acceleration.
In Asia Pacific, Afton has established two fuel and lubricant additive Technology Centers in Suzhou, China and Tsukuba, Japan that provide Afton’s customers with enhanced technical services, including sample blending, physical and chemical analysis, and performance testing.
The continued investment in the manufacturing facilities and technology centers in the region underscores Afton’s commitment to providing increased customer support to the fast-growing GPA business in Asia Pacific.