Can you update us on Croda’s global and regional activities?

We are celebrating We are celebrating our 100 years’ anniversary and the opening of several new operations globally. We are launching a new site in US focused on biotech and actives technologies. We are expanding some of our pharma and consumer care facilities in UK, and we are reinforcing our operations with new sites in India and China. In Latin America, we have an important footprint for innovation: In Brazil, we have our Global Innovation Center for the Agrochemical Market, which supports the region and the global business. In addition to this, we also have laboratories dedicated to personal care in Mexico and fragrance laboratories and facilities in Mexico, Colombia and Brazil.

How have demand trends in Mexico and the region evolved recently?

When we analyze the local market, we see an active consumer sector eager for new product launches. There is a clear trend towards more niche products with greater segmentation. For instance, we observe a strong interest in products targeting curly hair care in the cosmetics sector. Similarly, we see a growing demand for high-tech skincare solutions in the personal care space. We also notice a growing interest among some clients in shifting manufacturing to Mexico. This is a consequence of the nearshoring trend, as companies seek to bring production closer to the North American market. As a result, we have several partners working on plant expansions or establishing new facilities. Some of them are centralizing their manufacturing in Mexico rather than spreading operations across regions outside the Americas. This trend is driving increased manufacturing activity in the country for the domestic market and exports.

Which sectors have the most growth potential in Mexico and globally? 

We see strong growth potential across all our business segments. That is precisely why we decided about three years ago to divest our industrial business unit and reinvest the proceeds into strengthening our life sciences and consumer care divisions. The growth potential is enormous if we talk about consumer care, including home care, personal care and fragrances. The fragrance market is set to continue expanding globally and we are gaining a more predominant position within this space. Our beauty care business, especially in active ingredients, has an exciting pipeline of innovative product launches coming soon. In agriculture, Latin America remains as a very promising region, and we aim to grow alongside this market. Latin America is a fascinating region in pharmaceuticals, particularly for biotechnology-driven innovations. We see a substantial opportunity for new product development, and our existing structure and solutions positions us well to capitalize on this potential in the coming years. 

How vital is sustainable product development for Croda?

We were one of the first chemical companies in the world to sign the ESG agreement. We have achieved a Platinum sustainability ranking by EcoVadis. Our ambition is to become the most sustainable ingredients company in the world by 2030, and we are making excellent progress toward this goal. Around 65% of the raw materials we use at Croda come from natural and renewable sources, so this provides us with a strong foundation to achieve our sustainability objectives. Today, we apply green chemistry principles in both product design and manufacturing. We avoid launching any non-sustainable products, nor do we scale up manufacturing for products that do not meet our sustainability standards. Instead of having a separate sustainable portfolio, sustainability is now embedded in everything we do. Every new product we develop, manufacture and sell incorporates a significant sustainability component.

What are Croda’s main priorities in Latin America?

Bringing more capabilities to the region in manufacturing and innovation is crucial to responding more quickly to local market demands. This became evident after the pandemic—it no longer makes sense to depend entirely on global supply chains. We need to strengthen our regional capabilities and this is our priority. Additionally, we aim to position ourselves as a key commercial partner in innovation and sustainability within the specialty chemicals sector. Our vision is for Croda to be recognized as one of the strongest players in the Latin America market and, ideally, the best partner in terms of innovation and sustainability. We have currently a highly talented, collaborative and customer focused organization working hard to achieve this vision.