Aug 25, 2021
Increased derivative growth, product adoption to drive TOFA growth
INGEVITY IN THE NEWS
Leveraging the bio-based nature of derivatives into lubricants markets and continued opportunities to grow the adoption of products into oilfield markets are among the dynamics driving tall oil fatty acids (TOFA) market growth, Ingevity said in an outlook presentation on the pine chemicals and rosin industries.
The global lubricants market has a compound annual growth rate (CAGR) of approximately 3-4%, with the largest demand coming from China and expected further growth globally with continued vehicle electrification.
Vehicle electrification and tighter regulations on vehicle weight are driving demand for lighter, high-strength alloys that require specialised additives to impart lubricity for easier metal formation. Read more…