Could you introduce us to Lubrizol’s footprint in the personal care sector?
The personal care and beauty segment, encapsulated within Lubrizol Life Science, is a vibrant and growing area we are actively investing in at Lubrizol. The segment represents a substantial and expanding portion of our business. Our commitment to this sector is strong, driven by a clear vision to innovate and adapt to market demands.
Lubrizol has two main franchises in the beauty and personal care sector, Carbopol® polymers and Argireline® peptide, both of which have remarkable histories and continue to evolve. Carbopol® originated from B.F. Goodrich in the 1960s and came under our wing in 2004. It has since flourished into a vast array of formulas in the beauty and home care space. Argireline®, acquired through Lipotec in 2012, is a peptide that effectively reduces wrinkles caused by facial expressions, akin to Botox but without injections. We are enhancing these franchises with R&D and marketing efforts to better serve our customers. Specifically, the launch of a new Carbopol®, a more biodegradable variant, and developments like PemuPur™ Start polymer and SilSense™ Bio-5 emollient represent our response to the market's shift towards sustainability.
How do you balance the development of natural, bio-based products with product efficacy?
Balancing efficacy with the shift toward natural and bio-based products is a nuanced process. Innovations are ongoing, emerging from both our in-house capabilities and external collaborations. Our dual approach to innovation—leveraging both our internal research and external partnerships—ensures we remain at the forefront of sustainable and effective product development.
Can you shed light on the work at the ForeseeLab™?
Foresee Lab™ is at the heart of our innovation process. It is a melting pot of data and insights gathered from digital channels, customer feedback, and both in vitro and in vivo testing. This confluence of information guides our targeted research and development efforts. The innovation process is defined yet flexible, allowing us to adapt swiftly and introduce timely products to the market. It is an agile system that relies on continuous data input and strategic adjustments to stay aligned with consumer needs and industry trends.
How does Lubrizol ensure synergy across its various departments, such as between Personal Care and Paints and Coatings?
Lubrizol recognizes the immense value in interdepartmental synergy, particularly when it involves leveraging core technologies like dispersion science. For instance, the technology used in removing buildup from car engines can also apply to dental care. This cross-application of science underpins our innovative approaches across different markets. Our foundational work in lubrication, beginning with car engines, has parallels in skin and hair care. It is about adapting the science of surface chemistry to suit various needs, which echoes the versatility of my own background in the field.
In the context of sustainability and technological innovation, how does Lubrizol embrace regionalization?
Regionalization is key to addressing specific market needs. For example, we created Carbopol® SC-800, a polymer designed for the Asian market, to thicken solutions for a more luxurious feel. Innovations like Actizyme™ advanced botanical ingredient are also tailored to meet the unique needs of different skin types, such as Indian skin. Our Foresee Lab™ plays a pivotal role in this process, ensuring we innovate for the end-users in each region. Sustainability is intertwined with this approach, as different markets may demand varying levels of sustainable solutions. While striving for universal sustainability is ideal, we acknowledge the journey and cater to regions with stronger preferences for sustainable products, like botanical and naturally-derived products in India and Asia.
From your metaverse AI platform to social listening, Lubrizol is at the forefront of emerging technologies and digital. Why have you embraced tech as much as you have?
Embracing digital transformation is key to our progress; it is something I have believed in for decades, inspired by my experience at Honeywell. At Lubrizol, this belief has manifested particularly in our beauty business. We're leveraging our Metaverse platform to offer customers insights into their skin's health, visualizing changes that can't be detected by the naked eye.
We utilize advanced visualization and data science techniques, taking millions of pictures and data points to measure our products' impact over time, which is invaluable for innovation and understanding customer needs.
In beauty, we're also applying blockchain to ensure the traceability and sustainability of our ingredients, showing our commitment to ethical sourcing and environmental responsibility.
What keeps you up at night as a CEO of one of the top chemical companies in the world?
The increasing frequency and complexity of requirements for sustainability reporting pose a significant challenge. While transparency is important, different reporting standards across countries and states demand substantial resources, which could otherwise be used for innovation. We are actively working with organizations like trade associations to educate policymakers about the importance of streamlining global reporting requirements. This would help the industry focus on what truly matters—innovating sustainable products without being bogged down by red tape and disparate data requests that compound across geographies.
Looking at some of the key upcoming milestones for Lubrizol, particularly in the personal care unit, what are you most excited about for the future?
We are strategically investing in markets with strong future potential like India, with recent investments of $150 million, primarily focused on infrastructure to support clean water. Anticipating the growth of the middle class, we're positioning ourselves to meet their demands for products that improve health and well-being. Winning awards for innovative solutions, like theGold Award for PemuPur™ START polymer in 2022 and the Silver Makeup Bar Award SilSense Bio 5 in 2023, both at in Cosmetics® Global, is just the start. We have also established a Center of Excellence for bar soaps in India, yielding positive outcomes. Innovation is continuous for us and we are always enhancing our offerings with sustainable solutions.
Why do you believe Lubrizol will continue to be a trailblazer in innovation, especially in technology?
Our dedication to innovation is not just a part of our strategy; it is ingrained in our purpose statement: "Lubrizol science delivers sustainable solutions to advance mobility, enhance wellbeing and improve modern life." We facilitate essentials, from clean fuels and water to personal hygiene. Before the average person has their morning coffee, they have likely encountered our products multiple times. Our relentless commitment to integrating these essentials into valuable packages ensures that Lubrizol remains at the forefront of tech innovation.
