Can you discuss IMCD's activities in the past year? 

IMCD is a global specialty chemical distributor with 26 years track record of continuous growth trajectory. We operate in over 60 countries around the globe, and we entered Mexico in 2019 with the acquisition of DCS Pharma. Since then, the company has grown exponentially in the country where we are currently serving over 3,000 customers. 2025 marks our fifth anniversary in Mexico and we are very proud to say that we have our eight global business units operating in Mexico, not only preserving the legacy and strong reputation from the six companies that we have acquired, but expanding our value proposition to our principals and customers. Our eight business groups are Advanced Materials, Food and Nutrition, Pharma, Beauty and Personal Care, Home Care and Institutional, Industrial Solutions, Lubricants, Energy and Coatings, and Construction.

After taking a break in 2023 to consolidate and integrate our businesses, in the first half of 2024 we acquired Grupo Bretano, headquartered in Costa Rica with a strong presence and reputation in Central America and with a solid presence in Mexico that make us expand our product offering in the Food and Nutrition space. This expansion brings relevant synergies in the product portfolio in the benefit of the food processors.

Can you discuss the plastics segment in Mexico?

The plastics business, as other industry segments, are still managing the challenges of ‘the perfect storm’. The transition from an overstocked value chain, the rapid decline of pricing in several chemistries and the increased competition from Asian supply not only on raw materials but finished goods have forced us reinvent ourselves to excel and diversify, pursue opportunities in untapped segments and specialty chemistries that have made us overcome some of the challenges successfully.

What opportunities is IMCD pursuing in the various sectors it covers?

There are some specific trends in some segments where our value proposition of being part of the design and formulation differentiates ourselves. Let me give an example, in Beauty and Personal Care, which is a very fragmented market, there is a growing demand for personalized and boutique brands and a hyper-personalization of products where, through our laboratories in Mexico, we can bring speed to the development customized solutions.

In the pharmaceutical sector, we continue adding new products to our portfolio to service the private and government sector in the synthesis, APIs and excipients fields. This is another good example where technology and digitization allow us to share data and leverage our global presence. 

What challenges can you see on the horizon for Mexico?  

I believe that the value chain built via the USMCA agreement across Canada, USA and Mexico is one of the most solid in the world, and it will be complicated for political actions to destroy it. It genuinely has solid foundations and works well. The US continues to be the most relevant consumer market in the world.  One challenge we must address in Mexico is the chemical industry's increasing dependence on imports. Mexico benefits from a great deal of trade deals across the world that give us competitive access to raw materials that can incentivize manufacturing in the country. The nearshoring wave is a reality that can be observed across different metrics, such as the availability of warehousing space. A great deal of investment has been made here and is here to stay. Global supply chains are also vulnerable and threatened by climate and man-made disruptions. Mexico should also be wary of competition from Southeast Asia, which is also enjoying a booming trade with the US; in my opinion, that region will be our principal competitor going forward. In a nutshell, the distribution channels will become more relevant and that brings good opportunities for IMCD in the future.

What is IMCD’s outlook for 2025?

We are focused on continuing our growth path in Mexico and we have based our plan on three pillars: commercial excellence, operational excellence, and people. Our people are the most valuable resource for our transformation journey to make IMCD a greater company in a great country. At this time, we continue our commitment to sustainability and being a responsible actor in our communities. The best is yet to come for IMCD Mexico.