About Innospec

Innospec Inc. develops, manufactures, blends, markets and supplies a wide range of specialty chemicals to customers in the Americas, Europe, the Middle East, Africa and the Asia-Pacific. The company’s Performance Chemicals business creates innovative technology-based solutions for the personal care, home care, agrochemical, construction, mining and other industrial markets. The company’s Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. The company’s Oilfield Services business supplies drilling, completion and production chemicals which make exploration and production more cost-efficient and environmentally friendly. Segments The company operates through three segments Performance Chemicals, Fuel Specialties and Oilfield Services. Performance Chemicals Performance Chemicals segment provides innovative technology-based solutions for the company’s customers’ processes or products in personal care, home care, agrochemical, construction, mining and other industrial markets. This segment has grown through acquisitions, together with the organic development and marketing of innovative products in these end-markets. The company’s customers in this segment include large multinational companies, manufacturers of personal care and home care products and global mining, agriculture and building products and other industrial companies. In 2023, the company acquired QGP Química Geral (QGP) which will further strengthen its Performance Chemicals segment and add a manufacturing base in South America to compliment all of its end markets. Fuel Specialties Fuel Specialties segment develops, manufactures, blends, markets and supplies a range of specialty chemical products used as additives in diesel, jet, marine, fuel oil and other fuels. These fuel additive products help improve fuel efficiency, boost engine performance and reduce harmful emissions; and are most commonly used in the efficient operation of commercial trucking, marine and aviation engines, power station generators, heating oil and other industrial machinery applications. The segment has grown organically through the company’s development of new products to address increased demand for fuel, focus on fuel economy, higher efficiency engine technologies and legislative developments, including tightening global emissions regulations. The company is also applying these fuels technologies to an increasing number of non-fuel applications in a variety of industries. The company’s customers in this segment include national and multinational oil companies, fuel marketers and retailers, fuel terminals, marine lines, coating and plastics producers and other heavy industrial end-users. Oilfield Services Oilfield Services segment develops and markets chemical solutions for drilling, completion, production and oil and gas applications. The company’s customers in this segment include multinational public and independent exploration & production and oilfield services companies operating principally in the Americas and the Middle East. Strategy The company’s strategy is to develop new and improved products and technologies to continue to strengthen and increase its market positions within its Performance Chemicals, Fuel Specialties and Oilfield Services segments. The company also actively continues to assess potential strategic acquisitions, partnerships and other opportunities that would enhance and expand its customer offering. The company focuses on opportunities that would extend its technology base, geographical coverage or product portfolio. The company also continues to expand its geographical footprint, consistent with the development of global markets. Intellectual Property The company has a portfolio of trademarks and patents, both granted and in the application stage, covering products and processes in several jurisdictions. The majority of these patents have at least 10 years life remaining. The trademark Innospec and the Innospec device in Classes 1, 2 and 4 of the International Classification of Goods and Services for the Purposes of the Registration of Marks are registered in all jurisdictions in which the company has a significant market presence. The company also has trademark registrations for certain product names in all jurisdictions in which it has a significant market presence. Customers In 2023, the company had a significant customer in the Oilfield Services segment which accounted for 13.6% of its net group sales. Research and Development (R&D) The company’s expenditures to support R&D services were $41.7 million in 2023. Health, Safety and Environmental Matters The European Union (E.U.) legislation known as the Registration, Evaluation and Authorization of Chemical Substances Regulations (REACH) requires most of the substances in the company’s products to be registered with the European Chemicals Agency (ECHA). History The company was founded in 1938. It was formerly known as Octel Corp. and changed its name to Innospec Inc. in 2006.