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INTERVIEW
INTENSIFYING R&D TO CREATE NEW PRODUCTS, APPLICATIONS, AND PROCESS IMPROVEMENTS The company has a cumulative of 172 patents and we have got 110 applications with various patent offices
DR. RICHARD LOBO
HEAD - INNOVATION AND CQH (BUSINESS EXCELLENCE) TATA CHEMICALS LIMITED
2022 global trends in specialty chemicals and basic chemistry and its impact on India? Today, specialty chemicals is US $800 billion and is growing with a CAGR of 5.7 percent over the last 5 years. This is expected to grow and the momentum will continue till it becomes a US $1 trillion industry by 2025. Specialty chemicals industry is becoming an integral part of the larger global chemical sector. The chemical sector is presently US $4 trillion and it was growing at a CAGR of 4 percent from 2004 to 2018 and will go from strength to strength in future. The global chemical sector is dominated by China with a market share of about 35 percent and is fol-
lowed by Europe and the United States with 20 percent and 15 percent respectively. So, India has a long way to go. Currently, we have a market share of about 3 percent but we are an emerging player in global chemical sector. It is very heartening to see chemical sector leaders in India looking at specialty chemicals as a major vehicle for growth, particularly as we are planning to ramp up our product and capacity. India is truly a rising star as we have done about US $32 billion in turnover and specialty chemicals constitute about 1/5th of the chemical sector and are valued at close to US $160 billion as of FY18. So, there is great scope for growth and great room for exponentially pushing the barriers. The industry is moving sharply from single digit to double digit growth in years to come. We are very optimistic about India, as we believe the inherent knowledge base, exposure in terms of low cost manufacturing base, and depth in science will be of great help. We also understand technology and R&D really well. The ability for us to use Indian frugal engineering, strong understanding of consumer connect, and back it up with the very large pool of labour which will bode well for India. How is R&D into basic chemistry and specialty chemistry enabling Tata Chemicals to consistently set industry benchmarks? Tata Chemicals has been a science based company ever since its incorporation
in 1939. So it has a 80 plus year long history. There is a mission of the company which says serving society through science and it guides us on our journey all through. At the very core remains our value system which keeps us grounded in areas we work on. Currently, we are working on a few areas which include a prebiotic fibre to promote gut health. The other aspect is highly-dispersible silica through a green patented technology which will help improve the performance of tyres, help reduce the consumption of fuels and help build sustainability. We have been recognized by our peers along the way. We have been recipients of CII's India's top innovative company award consecutively three times in a row. We have recently won the quality innovation award at an international level. As the head of innovation at Tata Chemicals, my team is focused on next generation science differentiated innovation, collaborating with the world's best academia or R&D labs. In this process, we build businesses which have a unique brand and value proposition. Key R&D initiatives of Tata Chemicals and patents granted in FY 2021-22? The company has a cumulative of 172 patents and we have got 110 applications with various patent offices. Eight patents have been granted in this financial year and we are focused on generating our intellectual capital besides patents also to international
