South Wales high-tech manufacturer, Hexigone Inhibitors, is addressing a multi-trillion-pound global problem with its patented products. Following an initial discovery made at Swansea University, and after years of research and development, the company began its export journey in 2021.
Baglan-based firm Hexigone Inhibitors specialises in micro-reservoir technology that is added to paints and protective coatings to prevent corrosion. With applications across a wide range of industries including construction, oil and gas, marine and aerospace, Hexigone’s corrosion inhibitors help to reduce corrosion damage on boats, vessels, planes, oil tanks, cars, buildings and much more.
The company launched its export strategy three years ago after being spun out of Swansea University. It was founded by Dr Patrick Dodds in response to growing industry demand for safe alternatives to hexavalent chromate - the most widely used corrosion inhibitor – which was banned in Europe in 2019 as a known human carcinogen.
Dr Dodds worked in collaboration with industry leaders to develop safer and more sustainable inhibitors. The result is a product that has been proven to be over ten times more effective than market leading alternatives and has even outperformed hexavalent chromate itself, as well as the now leading anti-corrosion inhibitor, zinc phosphate.
With corrosion costing the world economy trillions every single year, and the global corrosion inhibitors industry valued at more than £5.6bn, the potential overseas market for the Welsh firm is huge.
This has been evidenced in late 2023 – early 2024 where Hexigone has signed a string of export deals in countries including India, Mexico, USA and across South and Central America, with a significant number more in the pipeline across other global regions.
Exports now account for 95% of Hexigone’s turnover and since 2021 the company has upscaled manufacturing processes by 3000% and grown its headcount by 50%.
Dr Dodds and his team are currently travelling all over the world to meet new clients and have a number of significant deals that are about to go over the line.
The Welsh Government has provided Hexigone with a range of support in recent years to help the business on its export journey, including financial backing and the opportunity to attend trade missions all around the world, enabling it to connect and build relationships with potential customers and partners in target markets.
Last year the Welsh Government supported Hexigone with attending the European Coatings Show in Nuremburg, and Paint India in Delhi.
The Welsh Government is also currently helping Hexigone to find distributors in Columbia via a consultant in the region who is doing background checks and assessing reputations in the local markets.
In recent weeks, Hexigone has also attended the American Coatings Show in Indianapolis and Paintistanbul & Turkcoat in Istanbul. Later this summer, they will also be attending the Latin American Coatings Show in Mexico City.
“We’ve got a great product, we know that”, says Dodds, “so we need to get it out there into as many markets and sectors as possible. The global export markets create limitless possibilities.
“But it’s also vital that we understand what our customers need - listening to them and understanding what their drivers are, and what’s going on in their markets. With exporting it’s not a one size fits all approach, every market is different, and the Welsh Government have really supported us with understanding this and approaching each one in a bespoke way.
“India is a massive market for us”, says Dodds, “the growth rate is so rapid and the investment in infrastructure is unrivalled. You cannot believe just how much is going on there.
“In fact, regions where there are quicker decision making processes have become big markets for us. In the UK it can take over four years to get a decision from a client, but in territories like India and Turkey, which we’re also entering, it’s less than 12 months from first conversations to completion.”