MONHEIM AM RHEIN, Germany — In view of the surging demand, the global chemical company Oxea plans to significantly expand its supply of carboxylic acids in the short-to-medium term. To this end, the company is already evaluating various strategic options for its worldwide production sites to be able to reliably meet global market demand in the future.
“The market segments in which customers use our carboxylic acids offer exciting development opportunities. Isononanoic acid, for example, is an important component in the production of high-performance synthetic lubricants for environmentally friendly refrigeration systems. Due to strict environmental protocols and regulatory requirements, the demand for such synthetic lubricants has increased rapidly worldwide," commented Dr. Ina Werxhausen, Global Commercial Business Director Acids & Esters Value Chain of Oxea. "As one of the worldwide market leaders for synthetic carboxylic acids, Oxea already offers a broad and differentiated product portfolio. To further support the growth of our customers, we analyze the markets and include their development in our production planning,” she continued.
“The market for carboxylic acids is an important part of Oxea’s business. The sustained strong demand encourages us to invest significantly in the strategic expansion of our production capacities for carboxylic acids. With our investments, we support the market growth, and we will be able to reliably supply our customers both today and in the future,” said Dr. Oliver Borgmeier, Oxea’s Executive Vice President Global Operations.