EXHIBIT 21
| Percentage of | ||||||||||||||
| voting securities | ||||||||||||||
| owned directly or | ||||||||||||||
| Name | Jurisdiction of Incorporation | indirectly by Quaker | ||||||||||||
| * | Quaker Chemical Corporation | Delaware, U.S.A. | 100% | |||||||||||
| +* | SB Decking, Inc. (formerly Selby, Battersby & Co.) | Delaware, U.S.A. | 100% | |||||||||||
| * | AC Products, Inc. | California, U.S.A. | 100% | |||||||||||
| * | Epmar Corporation | California, U.S.A. | 100% | |||||||||||
| * | Summit Lubricants, Inc. | New York, U.S.A. | 100% | |||||||||||
| * | G.W. Smith and Sons, Inc. | Ohio, U.S.A | 100% | |||||||||||
| * | Tecniquimia Mexicana S.A. de C.V. | Mexico | 100% | |||||||||||
| +* | Quaker Chemical Europe B.V. | Holland | 100% | |||||||||||
| * | Quaker Chemical B.V. | Holland | 100% | |||||||||||
| +* | KWR Holdings B.V. | Holland | 100% | |||||||||||
| * | Quaker Chemical (China) Co. Ltd. | China | 100% | |||||||||||
| +* | Quaker China Holdings B.V. | Holland | 100% | |||||||||||
| * | Quaker Chemical Canada Limited | Ontario, Canada | 100% | |||||||||||
| * | Quaker Chemical Limited | United Kingdom | 100% | |||||||||||
| * | Quaker Chemical S.A. | France | 100% | |||||||||||
| * | Quaker Chemical, S.A. | Spain | 100% | |||||||||||
| +* | Quaker Denmark ApS | Denmark | 100% | |||||||||||
| * | Quaker Chemical S.A. | Argentina | 100% | |||||||||||
| +* | Quaker Chemical Participacoes, Ltda. | Brazil | 100% | |||||||||||
| * | Quaker Chemical Limited | Hong Kong | 100% | |||||||||||
| +* | Quaker Chemical Holdings South Africa (Pty) Limited | Republic of South Africa | 100% | |||||||||||
| * | Quaker Italia, S.r.l. | Italy | 100% | |||||||||||
| * | Quaker Chemical, S.r.l. | Italy | 100% | |||||||||||
| +* | Quaker Australia Holdings Pty. Limited | Victoria, Australia | 100% | |||||||||||
| * | Quaker Shanghai Trading Company Limited | China | 100% | |||||||||||
| * | Q2 Technologies, LLC | Nevada, U.S.A. | 51% | |||||||||||
| * | Quaker Chemical Industria e Comercio Ltda. | Brazil | 100% | |||||||||||
| * | Quaker Chemical Operacoes, Ltda. | Brazil | 100% | |||||||||||
| +* | KWR Lubrificantes Industriais Ltda. | Brazil | 100% | |||||||||||
| * | Quaker Chemical India Limited | India | 55% | |||||||||||
| * | Quaker Chemical (Australasia) Pty. Limited | New South Wales, Australia | 100% | |||||||||||
| * | Quaker (Thailand) Ltd | Thailand | 100% | |||||||||||
| * | Quaker Chemical South Africa (Pty.) Limited | Republic of South Africa | 51% | |||||||||||
| * | Quaker Chemical Corporation Mexico, S.A. de C.V. | Mexico | 100% | |||||||||||
| * | Quaker Chemical HR Mexico, S.A. de C.V. | Mexico | 100% | |||||||||||
| * | ECLI Products, LLC | Illinois, U.S.A. | 100% | |||||||||||
| * | Engineered Custom Lubricants GmbH | Germany | 100% | |||||||||||
| * | Binol AB | Sweden | 100% | |||||||||||
| * | Binol Biosafe OY | Finland | 100% | |||||||||||
| ** | Nippon Quaker Chemical, Ltd. | Japan | 50% | |||||||||||
| ** | Kelko Quaker Chemical, S.A. | Venezuela | 50% | |||||||||||
| ** | Kelko Quaker Chemical, S.A. | Panama | 50% | |||||||||||
| ** | Primex, Ltd. | Barbados | 33% | |||||||||||
| + | A non-operating company. | |||||||||||||
| * | Included in the consolidated financial statements. | |||||||||||||
| ** | Accounted for in the consolidated financial statements under the equity method. | |||||||||||||