US-based specialty chemistry company Lubrizol Corp has opened its beauty research institute in Shanghai as its firm commitment to further local-for-local innovation and growth, said a top executive of the company, which is owned by multinational conglomerate Berkshire Hathaway.

"We think this region is perfect and couldn't have a better place in China," said Rebecca Liebert, president and chief executive officer of the Lubrizol Corp, explaining the decision of choosing Shanghai as the location for the beauty research institute.

According to Liebert, Lubrizol has a strategy that focuses on four areas, or innovation, high growth regions, value-added products and enterprise excellence.

"There is no better place in China because it brings all four of those pillars together. China is full of innovation, particularly in the beauty space. Secondly, China is in the middle of high-growth regions, therefore we can export what we learn here into Southeast Asia, India and Brazil very easily. Thirdly, I think the value-added capabilities that we're seeing with all of our customer partners in China and Asia is quite phenomenal," said Liebert.

"The Lubrizol Beauty Research Institute in China is a testament to our commitment to innovation and growth in this important region," said Bernardo Medeiros, vice-president of Lubrizol life science.

"Recognized as the fastest-growing beauty market, China plays a critical role in beauty innovation. By pairing global ground-breaking technologies with local consumer insights and local expertise, we can expand our capabilities to deliver value-added solutions not only relevant in the local market but globally as well," said Medeiros.

Opened on Aug 28 in Shanghai, the site is expected to serve as a strategic hub to further grow in vivo beauty testing capabilities, applying decision science to enable next-generation beauty ingredients, empower innovation collaboration and enhance speed to market for Lubrizol beauty and personal care customers in the region and beyond.

"With its scale and impact on the value chain of many industries, China plays an important role in setting the pace for technological advancement and innovation. The establishment of this beauty research institute is a strategic step to position Lubrizol at the heart of a most vibrant ecosystem and innovation landscape," said Liu Maoshu, vice-president of the Lubrizol Asia-Pacific region.

By expanding the company's R&D and lab network in the Asia-Pacific region, the Lubrizol beauty research institute houses leading clinical testing equipment and collaborative workspaces based on practices of Lubrizol's clinical testing in Barcelona of Spain, according to Wang Chang, Asia-Pacific regional business director of Lubrizol life science.

The center enhances Lubrizol's technical services capabilities to provide customized and comprehensive support to its customers, as well as to move from innovation insight faster and more efficiently via artificial intelligence and computer vision, Wang said.