 "Lubrizol")
Lubrizol, a global player in specialty chemicals, is aggressively expanding its footprint in India as part of its broader strategy to double business in the India, Middle East and Africa (IMEA) region within five years. The region currently accounts for 10 per cent of Lubrizol’s $6 billion global revenue, and the company is making significant investments to strengthen its presence.
With over $350 million (approximately Rs 3,000 crore) invested in the past 18 months, Lubrizol is setting up key facilities across India. These include a new chlorinated polyvinyl chloride (CPVC) resin plant in Vilayat, Gujarat, with a capacity of 100,000 metric tonnes and an investment of $150 million, which is set to be operational by early 2025; and a manufacturing facility in Aurangabad, with an initial investment of $200 million, which is expected to export to over 15 countries.
Lubrizol, which has had a presence in India for nearly 60 years, is now establishing an innovation centre in Maharashtra, aiming to break down silos between its various business units and foster collaborative research.
Commenting on the new innovation centre, Bhavana Bindra, Lubrizol’s managing director for the India, Middle East and Africa region, stated, "This centre is a first of its kind for Lubrizol globally — it's essentially a pilot for us. Once we achieve success here, we hope to replicate this model worldwide."
She highlighted India's role in the project, adding, "Typically, innovations start in the West and are brought to India. But here, we are leading the way. India is serving as a global pilot for an initiative within Lubrizol, a company with nearly a 100-year legacy."
In response to global supply chain disruptions, Lubrizol has adopted a “local for local” approach, focusing on manufacturing within the regions it serves. The company aims to reduce its dependence on imports, with plans to localise more production processes in India. While Lubrizol currently imports certain materials, its long-term vision is to minimise imports as domestic manufacturing capabilities expand.
The company also has business continuity plans in place, ensuring that facilities around the world can back each other up in case of disruptions. However, the preference remains to manufacture locally, both for economic growth and sustainability benefits.
"Everyone I talk to in the marketplace — Indian customers and suppliers — they're all looking to double their businesses in five years. We have an aspiration to do the same," said Rebecca Liebert, president and chief executive officer of Lubrizol. "Right now, we're focused on ensuring we have the necessary manufacturing, technical and sales capabilities to meet market demand. We will continue expanding and adapting our portfolio over time."
She emphasised the role of partnerships in Lubrizol’s growth strategy, stating, "One of the great things about India is the strong local partnerships. We've been here since 1966, starting with the Indian government and Indian Oil. Now, we’re collaborating with companies like Grasim for our CPVC plant, Ashirvad for pipe distribution, and Polyhose for our medical tubing joint venture in Chennai."
On Lubrizol’s current market presence, Liebert added, "The India, Middle East and Africa region accounts for about 10 per cent of our global revenue, which stands at $6.5 billion, and India is a significant part of that."
India’s rising middle class and growing consumer aspirations are key drivers for Lubrizol’s expansion. The company’s products are integral to everyday life, being used in personal care items, pharmaceuticals, automobiles and industrial applications. The increasing demand for air conditioners, washing machines and other consumer goods further fuels growth opportunities.
As India focuses on cleaner fuels and environmental regulations, Lubrizol is innovating in areas such as re-refined base oil technology, ensuring its additives are optimised for recycled oil use. The company collaborates with original equipment manufacturers (OEMs) to develop solutions that align with evolving industry requirements.
Recently, Lubrizol launched Carbopol polymers — a biodegradable and bio-derived alternative to traditional synthetic materials used in personal care and hygiene products. The company is also exploring innovative applications for existing molecules, such as thermoplastic polyurethane films for paint protection in automobiles.
The company believes its new innovation centre in Maharashtra is expected to play a crucial role in driving research across automotive, industrial, personal care and polymer applications. The centre will focus on co-developing solutions with Indian OEMs and integrating digital capabilities into product innovation.
