Last updated : August 29, 2026 7:29 am
Our ambition is to evolve into a more specialty-focused, innovation-led organization, delivering differentiated solutions that create long-term value for customers
Indovinya has evolved into a leading surfactants and specialty chemicals business within Indorama Ventures. What are the biggest growth drivers shaping the next phase of expansion?
Indovinya’s next phase of growth is anchored in three key pillars: innovation-led portfolio expansion, geographic growth, and integration advantages. We will continue to leverage our strong backward integration, particularly in ethylene oxide derivatives, which gives us a structural advantage in key markets such as the Americas.
At the same time, we are accelerating our transition toward high-value-added (HVA) and specialty solutions, supported by a strong global marketing and innovation organization. Geographically, APAC represents a significant growth opportunity.
Our current market share in the region is relatively low, and we see strong potential to expand through a combination of organic investments, partnerships, and innovation-driven solutions tailored to local needs. Ultimately, our ambition is to evolve into a more specialty-focused, innovation-led organization, delivering differentiated solutions that create long-term value for customers.
How do you plan to increase contribution from specialty products?
Increasing the share of specialty and high-value-added products is a core strategic priority. We have a global R&D organization of over 250 professionals across seven centers, working continuously to develop new molecules and application-driven solutions. Our approach is highly customer-centric, with close collaboration to co-create differentiated products for targeted markets. This model, combining deep technical expertise, application knowledge, and customer engagement, is key to scaling our specialty portfolio. Over the next three to five years, we expect this to significantly increase the contribution of HVA products to our overall business.
Which business segments are expected to deliver the strongest growth globally and in APAC?
Our strongest growth is expected in crop solutions, home and personal care, coatings, and energy and resources. These segments benefit from structural growth drivers, including: Demographic expansion and rising consumption (home & personal care); Increasing demand for agricultural productivity (crop solutions); and Regulatory and sustainability transitions (coatings and energy). Even in more challenging macroeconomic environments, these segments show resilience. Given our established customer relationships and strong innovation pipeline, we are well positioned to grow alongside our customers in these markets.
How does the IVL 2.0 strategy influence Indovinya’s direction?
Indorama Ventures’ broader strategy reinforces Indovinya’s transition toward a higher-value, more specialty-driven portfolio, with disciplined capital allocation and stronger regionalization. For Indovinya, this translates into: prioritizing investments in innovation and specialty solutions; strengthening regional production for regional demand, especially in APAC; and enhancing integration across commercial, R&D, and supply chain functions. This alignment ensures that our growth is not only faster, but also more resilient and better aligned with sustainability and customer expectations.
How important is Indian market within Indovinya’s APAC strategy?
India is strategically critical to our APAC growth ambitions. Our business in India has shown consistent and strong growth, with investments being rapidly absorbed by market demand. As a result, we view India not only as a key market, but as a growth engine for the region. We are actively exploring multiple pathways to expand our presence, including: capacity expansions, greenfield investments, and partnerships and potential acquisitions. India’s combination of demand growth, talent, and innovation ecosystem makes it central to our long-term strategy.
What investments are planned to strengthen Indovinya’s footprint in India?
We are making significant investments to strengthen our innovation capabilities and production capacity in India. In Mumbai, we are expanding our R&D facility significantly (multi-fold expansion) to create a world-class innovation hub. This will support not only India but the broader APAC region by accelerating product development and customer collaboration. In parallel, we are expanding our manufacturing footprint in Ankleshwar, with plans to significantly increase capacity to meet growing customer demand. Beyond this, we continue to evaluate additional investments and partnerships to further accelerate growth in India.
Which sectors in India are creating the most opportunities for Indovinya?
All key sectors, home care, personal care, agrochemicals, coatings, and industrial applications, are experiencing strong growth in India. Surfactant demand, in particular, is growing at approximately 1.5 times the GDP rate, which creates broad-based opportunities across industries. Given this momentum, we see multiple high-growth avenues, supported by increasing consumption, regulatory shifts, and the need for more sustainable and high-performance solutions.
Nearly 17% of revenue comes from products launched in the last five years. What have you learned about translating innovation into commercial success?
A key success factor has been building a strong innovation culture supported by structured processes. We have robust frameworks for new product introduction, clear KPIs to track commercialization success, and Increasing use of digital tools to accelerate development cycles. Innovation at Indovinya is not just about invention, it is about execution, speed, and customer relevance. This is what allows us to consistently translate innovation into commercial value.
How do you foster collaboration across global R&D teams?
Collaboration is a critical strength of our innovation model. With seven R&D centers globally, we ensure strong alignment through global coordination between Marketing and Innovation teams; shared prioritization of projects to maximize value creation; use of digital platforms and data tools to enhance connectivity. This structure enables us to combine global expertise with local market insights, ensuring that we develop the right solutions for our customers.
How are digital technologies and AI influencing product development?
Digitalization and AI are becoming increasingly important in how we innovate. At Indovinya, we are leveraging on AI-driven molecule design and predictive modeling; advanced analytics to accelerate formulation development; and digital tools to improve efficiency and speed-to-market. For example, AI has already helped us significantly reduce laboratory time and improve innovation productivity. These technologies are enabling us to shorten development cycles and enhance solution performance.
What are the key levers to achieve your sustainability targets, including net zero?
Our sustainability strategy is built on clear, measurable targets, including Reduction in Scope 1 and 2 emissions intensity by 2030. Key levers include: energy efficiency and process optimization; increased use of renewable electricity and alternative energy sources; development of lower-carbon product portfolios; and closer collaboration with suppliers to address Scope 3 emissions. Importantly, sustainability is fully integrated into our innovation and product development strategy, making it a driver of growth rather than a constraint.
What opportunities do you see in pharmaceutical applications?
The pharmaceutical and nutrition segments represent a high-value and highly regulated growth area. With our strong capabilities in high-purity ingredients and regulatory compliance, we are well positioned to expand in this space, particularly in emerging markets, where demand for quality and reliability is increasing.
Are you seeing increased demand for regionalized manufacturing?
Yes, very clearly. Geopolitical shifts and supply chain disruptions have accelerated the trend toward regionalization. Customers increasingly value local production, supply security, and agility. At Indovinya, we are actively strengthening our “regional production for regional consumption” model, especially in APAC and India, to better serve customers and reduce supply chain risks.
Looking ahead to 2030, what would success look like for Indovinya?
By 2030, success for Indovinya will mean significantly higher share of revenue from specialty and sustainable solutions; strong growth in key regions like APAC and India; measurable progress toward our decarbonization and sustainability targets; faster innovation cycles driven by digitalization and AI; and deeper, long-term customer partnerships. Ultimately, success will be defined by our ability to deliver high-performance solutions that also advance sustainability, creating value for customers, partners, and society.