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INVESTMENT BENCHMARKING STUDY

Henkel completes phase III of its manufacturing Indian chemical companies lag global peers

facility in Kurkumbh in patents & publications

Henkel Adhesives Technologies While a few key Indian chemical 1,125.3
India Pvt. Ltd. has announced the com- fi rms exhibit a strong performance in
pletion of Phase III of its manufactur- comparison to their global counter- 14.1x
ing facility in Kurkumbh, near Pune, parts, there is still a substantial gap in
Maharashtra. The Kurkumbh site, patents and publications per revenue 446.3
which was launched in 2020, serves the in the Indian chemical industry, high- 238.6 240.0 9.9x 5.6x 329.7 12.1x
growing demand of Indian industries lighting the need for increased focus on 29.8x 79.9 33.0x
for high-performance solutions in ad- innovation and intellectual property. 8.0 7.3 3.5 34.6 59.2 37.0
hesives, sealants, and surface treatment Automobiles Chemicals Defence Energy Pharma Software
ceuticals
products. According to a report released by India International
the Foundation for Advancing Science & Fig. 1: Patents per revenue
The new Loctite plant, named after Technology (FAST India), a non-profi t, 17.3%
Henkel’s renowned brand Loctite, was in collaboration with IIFL Securities, 17.1%
inaugurated by Mr. Mark Dorn, Execu- there are signifi cant disparities in R&D 3.0x
tive Vice President, Henkel Adhesive intensity, the proportion of Ph.D. em- 32.0x
Technologies, along with other senior ployees, patent output, and publication
management members of the company. rates, between Indian companies and 5.2% 1.7x 2.8x 2.5x 5.8%
their global peers. Indian companies 3.1x 3.4%
Henkel Adhesive Technologies en- included in the study are Asian Paints, 1.7% 0.6% 1.1% 1.2% 0.1% 0.2% 0.5%
tered the Indian market in 1996 and is Coromandel International, UPL Ltd., Automobiles Chemicals Defence Energy Pharma Software
a signifi cant growth driver for this busi- SRF Ltd., Pidilite Industries Ltd., Berg- ceuticals
ness today. Henkel has been expand- er Paints Ltd., Tata Chemicals Ltd., PI Fig. 2: R&D Intensity
ing its presence in the country through Industries Ltd., Deepak Nitrite Ltd., fi rms. Among the Indian companies, Indian fi rms also signifi cantly lag
consistent strategic investments to meet and Solar Industries. Tata Chemicals Ltd. ranked the highest in patent output, with global fi rms pro-
the rapid growth. Today, the company in publications by revenue among ducing 14.1x the number of patents per
has a strong footprint in India and Overall, global chemical fi rms show Indian fi rms and fourth overall. Though billion US$ revenue as compared to
operates fi ve manufacturing sites, two 1.7x higher R&D intensity compared to Asian Paints has a higher absolute Indian fi rms. LG Chem is ranked fi rst
innovation centres, a customer experi- “The new Loctite plant highlights trality in Kurkumbh for Scope 1 and the Indian fi rms. While agrochemical number of publications, it ranks much with 2.6x patents by revenue of Sika
ence centre, a packaging academy, and our vision to emerge in the country as 2 emissions by 2030. To support this company Corteva has the highest R&D lower at 11th overall. AG, which is ranked second.
an application centre for the footwear a self-reliant global market player with ambition, the site has signed a green elec- intensity at 7.0%, it is 2.3x that of the
industry. a strong local presence. With continued trical energy Power Purchase Agree- second-ranked fi rm, PI Industries. SRF Updated publication on 90 chemical
investments, effi cient supply chains, ment and installed on-site solar panels. performs best on R&D intensity in the
The new Loctite plant in Kurkumbh and customer-focused solutions, Henkel high revenue cluster at 1.1%, followed project investment opportunities
will serve Indian businesses, further is committed to driving growth in According to Mr. S. Sunil Kumar, by UPL Ltd. (1.0%). PI Industries had
localise the product portfolio, and thus, India and building ecosystems of Country President, Henkel India, a key 3.4% of employees with a Ph.D., rank- Nandini Consultancy Centre, a chemi- specifications, applications, import/
reduce dependence on imports. It will innovative and sustainable solutions highlight of the new Loctite plant is the ing fi rst among all fi rms studied for this cal engineering and chemical business export trends, producers in India, pro-
also help address the supply-demand with our partners and customers,” said Automated Storage and Retrieval Sys- parameter, showing a prioritisation of consultancy organisation, based in Chennai, posed new projects, present and pro-
gap of high-performance adhesive solu- Mr. Dorn. tem (ASRS), which enables fast execu- hiring researchers. Coromandel Inter- has released an updated publication on jected demand-supply scenario, global
tions for the manufacturing, mainte- tion of material storage and retrieval. national ranks fi fth among all fi rms for 90 chemical project investment oppor- trends, and scale of investment required
nance, repair and overhaul (MRO), and Carbon-neutrality by 2030 “The plant will leverage Industry 4.0, the proportion of Ph.D. employees indi- tunities. The chemicals and allied pro- (medium or large scale). The report,
automotive components sectors. “Henkel The Kurkumbh site also meets the optimize production effi ciency, and fur- cators. ducts in the report are entirely or largely with around 490 pages, in soft copy,
Adhesive Technologies is well-posi- highest standards of sustainability and ther drive profi table, organic growth for imported into India and have good aims to draw the attention of project
tioned to meet the demand arising in is ‘LEED Gold’ certifi ed, a rare feature Henkel India, while continuing to con- In terms of publications, global demand growth potential. promoters and investors to the invest-
these fast-growing market sectors,” a among chemical plants. In addition, tribute to the ‘Make in India’ initiative fi rms produced 3.4x publications per ment opportunities in chemical projects
statement added. Henkel aims to achieve carbon-neu- of the Indian government.” billion US$ revenue, compared to Indian Each chemical report will include in India.

140 Chemical Weekly July 30, 2024 Chemical Weekly July 30, 2024 141

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