Ashland Innovation Day reveals renewed emphasis on technology & sustainability

Ashland revenues hit $2.3 billion in 2022 derived from four business units. Currently 91% of that business is evenly split between the pharma, coatings and personal care operations, with the company forecasting that its extensive technology pipeline should help to maintain annual revenue growth at 5 to 6%.

Nova pointed to four key strategies that will determine the path of the company’s future as a whole, which include building on its technology capabilities, globalizing high-value product segments with a particular emphasis on Asia, an emphasis on investing in both new and existing technology, as well as being acquisitive in key growth opportunity areas, specifically biotech and natural.

Within the personal care business there will be three main areas of focus, the first being to continue to grow its leadership in the supply of oral, hair and skincare ingredients, the second to continue to strengthen its offering in the nature and nature-derived space, while the third will focus on the transition towards its Environment, Social and Governance (ESG) initiative.

All-new technology platform

With the emphasis on technology, the company used its Innovation Day to focus on a reimagined technology platform, which includes five new areas for the business as a whole, which includes a specific emphasis on the personal care area.

The five new platforms are transformed vegetable oils, novel cellulosics, super wetting agents, liquid cellulose and biorestorable polymer; alongside two future platforms that are still under development – multifunctional starch, which is specific to the personal care area, and Ph neutralizers.

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