Lubrizol’s innovations for 2024 improve lives and make the modern world work better

Local innovation for local needs

Lubrizol has significantly strengthened its local capabilities in key growth regions to better respond to industry needs and market demands, an expansion of its proven global footprint.

• In India, Lubrizol expanded its recent local investment commitments to more than $350 million last year. In 2024 this included:

  • Production of additives: A Memorandum of Understanding (MoU) to build Lubrizol’s world’s second largest additive plant in Aurangabad, serving the transportation and industrial fluids market across the region.

  • Medical hoses: The aim is to improve local manufacturing of extruded medical tubing, thereby increasing access to life-saving medical tubing in India and markets around the world.

  • CPVC compound and resin plants: The construction of the world’s largest CPVC resin plant** and the doubling of Lubrizol’s existing CPVC compound production capacity at the Dahej site continue to progress. These projects enable clean drinking water in India and the surrounding regions.
    

• In the Asia-Pacific region Lubrizol opened innovation institutes and strengthened the collaborative innovation of customers and partners, including:

  • Lubrizol Beauty Research Institute in Shanghai: The site expands Lubrizol’s global in vivo capabilities by applying decision science to enable next-generation beauty ingredients, drive local innovation, and accelerate the introduction of differentiated skin and hair care solutions in the region and beyond.

  • Lubrizol High-Performance Films (HPF) Innovation Center: The Center focuses on fostering collaboration and aims to leverage collective expertise to drive sustainable development across the entire industrial value chain, accelerate innovation, improve product differentiation and capture industry opportunities. This initiative will be further supported by increased investment in ESTANE TPU production capacity and the launch of the ESTANE TPU Empowerment Ecosystem.
    

• In North America

  • Production of high-performance coatings: Lubrizol has announced significant investments to expand production capacity at its Avon Lake and Gastonia plants in North America. This underlines Lubrizol’s commitment to innovation and providing best-in-class solutions while enabling faster response times and reducing the carbon footprint associated with inter-regional shipping.

Partner in work

Lubrizol is committed to continually advancing the development of innovative solutions that meet the needs of today and tomorrow. To ensure progress in the areas that matter most to Lubrizol customers, in 2024 Lubrizol will:

• Growing sustainability in innovations: Lubrizol has established clear criteria to define sustainable solutions across its portfolio by embedding sustainability into the earliest stages of research and development and product innovation, while promoting the sustainability attributes of its most valued technologies. Lubrizol’s goal is to evaluate 100% of all new corporate innovation projects against these criteria from 2025.

• Invested in digital and data science: Lubrizol invested in data and decision science tools, AI and machine learning (ML), and more to enable rapid time to market and data-driven insights.

• Expanded focus on external innovation and strategic investments: In 2025, Lubrizol plans to launch a strategic external innovation program dedicated to co-innovation with partners to explore and develop new solutions in new and existing markets, as well as investing in additional laboratories and research and development capacity to achieve this expand customer options.

“The biggest change for Lubrizol is that we are now moving faster than ever before,” said Abhishek Shrivastava, vice president of innovation and decision science. “We have adopted an agile innovation model – start small, learn fast, fail early, scale fast. That’s who we are.” We undertake many small missions in large areas; we don’t just deliver chemicals or products, we enable solutions to major world problems.

To learn more about these innovations and Lubrizol’s award-winning portfolio, visit www.lubrizol.com and click here to view all of our 2024 innovations.

*Comparison calculations with acrylic performance benchmark based on assumptions. Customers must assess the impact on their finished formulations based on the usage rate of each ingredient.

**World’s largest company based on single site capacity for CPVC resin

About Lubrizol Corporation

Lubrizol Corporation, a Berkshire Hathaway company, is a science-based company whose specialty chemicals deliver sustainable solutions to promote mobility, improve well-being and enhance modern life. Lubrizol’s innovators strive every day to create exceptional value for customers at the intersection of science, market needs and business success, driving discoveries and creating breakthrough solutions that improve lives and make the world work better. Founded in 1928, Lubrizol has global reach and local presence with more than 100 manufacturing facilities, sales and technical offices and 8,000 employees around the world. For more information, visit www.Lubrizol.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241205992635/en/

Contacts

Olivia Tormento, Director, Corporate Communications

[email protected]