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By Courtney Bassett, Managing Editor, Paint & Coatings Industry Magazine

The following is PCI’s annual ranking of the top 25 North American paint and coatings manufacturers. The ranking is based on 2022 coatings sales. Sales of noncoating products are not included. Read this issue's Editor’s Viewpoint for insights on the coatings market and trends throughout 2022. If you have any questions, or feel your company should be included in this ranking, please contact Courtney Bassett at

Click on the blue bar for each company to see their full details.

1. The Sherwin-Williams Co.



Chairman and CEO: John G. Morikis

President and COO: Heidi G. Petz

2022 Coatings Sales: Approx. $17.72 billion

Full details
The Sherwin-Williams Co. was founded in 1866 by Henry Sherwin and Edward Williams. The company provides coatings and related products to professional, industrial, commercial, and retail customers in paint stores in the United States, Canada, and the Caribbean. Employing approximately 64,000 people, Sherwin-Williams is organized into three segments: the Americas Group, the Consumer Brands Group, and the Performance Coatings Group.

The Americas Group operates the Sherwin-Williams branded paints, stains, supplies, equipment, and floor coverings in the United States, Canada, the Caribbean, and Latin America. Products sold through this group include paint, stains, aerosols, caulks, varnishes, protective and marine coatings, applicators, and spray equipment in the United States, Canada, the Caribbean, and Latin America; wall and floor coverings in the United States, Canada, and the Caribbean; and OEM product finishes in Latin America. Brands include Sherwin-Williams®, A-100®, Builders Solution®, Captivate®, Cashmere®, Colorgin®, Condor®, Duration®, Emerald®, Kem Tone®, Latitude®, Loxon®, Metalatex®, Novacor®, Painters Edge Plus™, ProClassic®, ProCraft®, Pro Industrial™, ProMar®, SuperDeck®, SuperPaint®, and Woodscapes®. The Americas Group operates 4,624 Sherwin-Williams paint stores in the United States, Canada, and the Caribbean, and 307 in Argentina, Brazil, Chile, Ecuador, Mexico, and Uruguay.

The Consumer Brands Group sells branded and private-label products through retailers in North America, Europe, and China. Customers include professional painting contractors, DIY painters, industrial maintenance providers, and commercial roofing and flooring contractors. Products sold in this group include paints, stains, varnishes, industrial products, wood finishing products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks and adhesives, and related products. Brands include Cabot®, Dupli-Color®, Dutch Boy®, Geocel®, HGTV HOME® by Sherwin-Williams, Huarun®, Krylon®, Minwax®, Purdy®, Ronseal®, Thompson’s® WaterSeal®, Valspar® and White Lightning®. The group serves customers in the United States, Canada, Europe, and China through over 10,000 distribution points.

The Performance Coatings Group sells coatings and finishes to customers in the general industrial, industrial wood, protective and marine, coil and extrusion, packaging, and automotive coatings markets. Brands include Sherwin-Williams®, Acrolon®, AcromaPro®, ATX®, DeBeer Refinish®, Duraspar®, EcoDex®, Envirolastic®, Excelo®, EzDex®, Fastline®, Firetex®, Fluropon®, Heat-Flex®, House of Kolor®, Huarun®, Inver®, Kem Aqua®, Lazzuril®, Macropoxy®, Martin Senour®, Matrix Edge®, ML Campbell®, Octoral®, Perma-Clad®, Polane®, Powdura®, Sayerlack®, Sher-Wood®, Sumaré®, Ultra 9K®, Ultra 7000®, ValPure®, and Valspar®. The group operates branches and facilities in the United States, Australia, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, Finland, France, Germany, India, Indonesia, Ireland, Italy, Lithuania, Malaysia, Mexico, Norway, Peru, Poland, Portugal, Romania, Singapore, Spain, Sweden, Thailand, Ukraine, United Kingdom, and Vietnam, with distribution in other countries.

Sherwin-Williams reported total consolidated sales for 2022 of approximately $22.15 billion. It is estimated that approximately 80% of sales, or about $17.72 billion, represents coatings sales, with the remainder being related to products such as floor coverings, application supplies, and wallcoverings. The Americas Group reported a net sales increase of 12.9% to $12.7 billion in 2022, which accounts for 57% of total 2022 sales for the company. Net sales in the Consumer Brands Group decreased 1.1% in 2022 to $2.7 billion. This accounts for 12% of 2022 total sales. The Performance Coatings Group reported a 13.2% increase in net sales in 2022 to $6.8 billion. Performance Coatings Group sales represent 31% of total sales for 2022.

In January of 2022, The Sherwin-Williams Co. held a virtual celebration to mark the official start of construction for the company's new global headquarters. The 1,000,000-square-foot facility will be located in downtown Cleveland, Ohio, and is part of the company's comprehensive Building Our Future project, which also includes construction of the Research & Development (R&D) Center in Brecksville, Ohio, which broke ground in October 2021. Sherwin-Williams plans to invest a minimum of $600 million to build both the headquarters and R&D facility.

In February of 2022, the company announced that it signed an agreement with the state of North Carolina, Iredell County, and the city of Statesville to significantly expand its architectural paint and coatings manufacturing capacity and establish a larger distribution facility in Statesville. Sherwin-Williams reported plans to invest a minimum of $300 million in the project and add more than 180 full-time jobs at the site over the next three years, which would essentially double the existing workforce. In October, the company held a groundbreaking ceremony to mark the start of construction of a 36,000-square-foot extension of its existing 200,000-square-foot manufacturing facility and new 800,000-square-foot distribution and fleet transportation center.

In 2022, Sherwin-Williams also announced several acquisition agreements including:
• Gross & Perthun GmbH, a Mannheim, Germany-based developer, manufacturer, and distributor of coatings primarily for the heavy equipment and transportation industries. The acquired business has approximately 100 employees and annual sales of approximately $50 million, and will become part of the Sherwin-Williams Performance Coatings Group reportable segment.
• Industria Chimica Adriatica S.p.A. (ICA), an Italian designer, manufacturer, and distributor of industrial wood coatings used for kitchen cabinets, furniture and décor, building products, flooring, and other specialty applications. The acquired business has annual sales of more than €150 million, with sales and operations globally, including production facilities in Italy and Poland, and ICA's interest in the India-based joint venture, ICA Pidilite. ICA has approximately 600 employees and will become part of the Sherwin-Williams Performance Coatings Group operating segment.
• German-based Specialized Industrial Coatings Holding (SIC Holding), a Peter Möhrle Holding and GP Capital UG venture comprised of Oskar Nolte GmbH and Klumpp Coatings GmbH. The business' portfolio of solutions includes foil coatings as well as radiation-cured and water-based coatings for the board, furniture and flooring industries. With a presence in Europe, Asia and South America, the business has approximately 220 employees and annual sales of more than €91.5 million, and will become part of the Sherwin-Williams Performance Coatings Group reportable segment.
• The completed acquisition of the European industrial coatings business of Sika AG, which will become part of the company's Performance Coatings Group operating segment. Approximately 115 Sika employees have joined Sherwin-Williams.

Source: Annual Report, company website, press releases

2. PPG Industries



President/CEO: Tim Knavish

2022 Coatings Sales (Net): $17.652 billion

Full details
At PPG, team members work every day to develop and deliver the paints, coatings, and specialty materials that customers have trusted for 140 years. Through dedication and creativity, they solve customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, the company operates and innovates in more than 75 countries and reported record net sales of $17.65 billion in 2022, up about 5% versus the prior year. PPG serves customers in the construction, consumer products, industrial and transportation markets, and aftermarkets.

Organic sales were higher by 8% driven by higher selling prices. Net income in 2022 decreased versus 2021 due to raw material cost inflation, lower sales volumes, unfavorable foreign-currency translation, and higher manufacturing costs related to supply and labor disruptions, partially offset by higher selling prices, restructuring cost savings and acquisition-related synergies.

In 2022, the company paid $570 million in dividends. Capital expenditures totaled about $520 million, which was higher than the prior year due to more normalized spending. The company had about $1 billion remaining on its current share repurchase authorization at the end of 2022. The higher corporate and interest expenses are projected to decrease reported and adjusted EPS by about $0.20 on a year-over-year basis.

Notes: Key 2022 PPG milestones included:
• PPG and The Home Depot, HD Supply expanded their relationship with the launch of a professional paint assortment at all U.S. locations.
• New commitments to employee diversity, equity and inclusion (DEI), and launched their first-ever DEI report.
• The company opened a powder coatings research, customer application center in Milan, Italy.
• PPG acquired Arsonsisi’s powder coatings manufacturing business.
• The company strengthened its commitment to setting science-based targets to reduce GHG emissions in line with climate science through the Science Based Targets initiative (SBTi).
• Achieved industry first with launch of PPG ENVIROCRON™ LUM retroreflective powder coating.
• Launched PPG INNOVEL® PRO, an enhanced internal spray coating that uses no bisphenol-A (BPA) or bisphenol starting substances and provides more robust application properties for infinitely recyclable aluminum beverage cans.
• Increased U.S. aerospace products manufacturing output to meet rising demand.
• Achieved 39% of sales from sustainably advantaged products.
• Achieved 16% reduction in GHG emissions from the 2017 baseline.
• Achieved 21% reduction in quantity of waste generated from the 2017 baseline.
• Achieved 16% reduction in waste disposal intensity from the 2017 baseline.

In addition, as part of its community engagement efforts, PPG and the PPG Foundation invested $16.2 million in 2022 to support more than 650 community partners and programs across the world. Since 2015, PPG has completed 473 COLORFUL COMMUNITIES® projects in 50 countries, positively impacting more than 8.2 million people. Throughout July 2022, the Colorful Communities program transformed 36 schools and learning spaces through the New Paint for a New Start campaign. More than 1,000 PPG volunteers took part in the initiative, which benefited more than 23,000 students and educators.

Source: Company contact, Annual Report

3. RPM International Inc.

Medina, OH


Chairman/CEO: Frank C. Sullivan

2022 Coatings Sales: $6.7 billion for fiscal year ended May 31, 2022

Full details
RPM owns subsidiaries that are world leaders in specialty coatings, sealants, building materials, and related services across four segments.

RPM’s Construction Products Group is comprised of businesses that manufacture construction sealants and adhesives, coatings and chemicals, roofing systems, concrete admixture and repair products, building envelope solutions, insulated cladding and concrete forms, flooring systems, and waterproofing solutions. They are used for construction, maintenance, and restoration of various industrial, commercial, and infrastructure applications. Leading brands include Tremco, Flowcrete, Euclid Chemical, Nudura, and Dryvit. The group’s products are sold to distributors, contractors, and end users over a large geographic footprint that spans approximately 130 countries and territories. The Construction Products Group generates about 37% of RPM’s net sales.

RPM’s Performance Coatings Group provides construction, maintenance, and restoration products, including high-performance flooring solutions, corrosion control and fireproofing coatings, fiberglass-reinforced plastic grating, drainage systems, and infrastructure repair systems for industrial and commercial use. Leading brands include Stonhard, Carboline, Fibergrate, and USL. Its products are sold worldwide to contractors and distributors, as well as directly to end users with a unique supply-and-apply model serving manufacturers, public institutions, and other commercial customers. The Performance Coatings Group generates approximately 18% of RPM’s total sales.

RPM’s Consumer Group includes businesses that make small-project paints and coatings, primers, caulks and sealants, hobby and craft products, wood stains and finishes, wall and wood repair products, and household cleaners and stain removers that are used by professionals and do-it-yourselfers for home maintenance and improvement. Leading brands include Rust-Oleum, DAP, Zinsser, and Varathane. Its products are marketed primarily in North America, with an increasing presence in Europe, Australia, South Africa, and South America. Sold through home improvement centers, hardware and paint stores, mass merchants, and craft shops, these brands can be found on nearly every garage or basement shelf throughout the United States and Canada. The Consumer Group generates approximately 33% of RPM’s net sales.

RPM’s Specialty Products Group is comprised of businesses that produce fluorescent pigments, wood stains, finishes and treatments, powder coatings, marine coatings, restoration and cleaning solutions, edible coatings, and other specialty OEM coatings. Leading brands include DayGlo, Legend Brands, Mohawk, and Pettit. Its products are marketed primarily in the United States, with a growing presence throughout Europe. They are sold to contractors and distributors, as well as directly to end-users such as manufacturers, public institutions, and other commercial customers. The Specialty Products Group generates about 12% of RPM’s total sales.

Parent Company: RPM International Inc.

Notes: Recent acquisitions include TnD, J.W. Brett Inc., Wood Repair Products Inc., The Lutz Company’s panelization division, and Chryso North America’s cement grinding aids and additives.

In July 2022, RPM announced its MAP 2025 (Margin Achievement Plan) operational improvement initiative with the goals to achieve $8.5 billion in annual revenue, 42 percent gross margin and 16 percent adjusted EBIT margin on a run-rate basis by May 31, 2025.

Source: Company contact, Annual Report, press releases

4. Axalta Coating Systems



President/CEO: Chris Villavarayan

2022 Coatings Sales: Approx. $4.9 billion

Full details
With more than 150 years of experience in the coatings industry, Axalta Coating Systems serves more than 100,000 customers in over 140 countries with mobility and performance coatings. In 2022, the company reported 41% of its sales were in North America, 33% in EMEA, 15% in Asia-Pacific and 11% in Latin America. Axalta operates in two business segments: Performance Coatings and Mobility Coatings. In 2022, Performance Coatings accounted for $3,326.7 million in sales (68.1% of overall sales). This segment includes refinish coatings, which recorded $1,943.4 million in sales, and industrial, which recorded $1,383.3 million in sales. Brands include Cromax®, Standox®, Spies Hecker®, and Syrox™. Axalta’s Mobility Coatings segment recorded sales of $1,557.7 million (31.9% of overall sales). Within this segment, light vehicle coatings accounted for $1,181.1 million in sales, while commercial vehicle coatings accounted for $376.6 million in sales. In terms of end markets, refinish coatings accounted for 40% of net sales in 2022, while industrial coatings accounted for 28% of sales. The light vehicle end market accounted for 24% of 2022 total sales, and commercial vehicles accounted for 8%.

Notes: In April of 2022, Axalta Coating Systems announced that it was the recipient of two prestigious 2022 Edison Awards. Axalta's Spies Hecker full-waterborne repair system and its digital paint coating technology earned Bronze in the Sustainability and Engineering and Materials Science categories, respectively. Named after Thomas Edison, the Edison Awards have recognized and honored some of the most innovative new products, services, and business leaders in the world since 1987.

In August of 2022, Axalta announced the launch of its next-generation basecoat technology, Cromax® Gen, for the automotive refinish industry in Latin America. The new product aims to increase productivity and optimize costs for body shops. Also in August, the company announced its Abcite® 2060 thermoplastic flame spray powder coating was named a 2022 R&D 100 Award winner for providing best-in-class protection against corrosion and driving productivity. In addition, Imron® industrial high-performance urethane primer was named a finalist. Both technologies support the company’s 2030 sustainability goals and were recognized in the Mechanical and Materials category, which includes technologies of significance in coatings and paint solutions.

In December of 2022, Axalta announced it signed a multiyear agreement with Steer Automotive Group, the UK’s largest independently owned vehicle repair organization. Under the terms of the agreement, Axalta is the single preferred paint partner, supplying its premium refinish brand, Standox, to Steer Automotive Group’s 57 UK sites.

Source: Annual Report, press releases

5. Behr Paint Co.

Santa Ana, CA


CEO/President: Jeff Filley

2022 Coatings Sales: Approx. $2.78 billion

Full details
In business since 1947, Behr Paint Co. is one of the largest manufacturers of paints, primers, decorative finishes, stains, and surface preparation products for do-it-yourselfers and professionals in North America. Behr is part of the Decorative Architectural Products segment of Masco Corp. Behr produces architectural coatings, including paints, primers, stains, and waterproofing products. Products are sold in North America, South America, and China under the BEHR®, BEHR PRO®, KILZ®, WHIZZ®, and E&J® brands. They are sold to DIY and professional customers through paint stores, home centers and other retailers. Behr is a leader in the DIY market, partnering with The Home Depot to sell paints, decorative finishes, primers, stains, and surface-preparation products. The Home Depot is Behr’s largest customer. In 2022, sales from that segment represented $2.78 billion, which is 32% of the 2022 total net sales for Masco Corp. of $8.7 billion, this is up from 30% of Masco’s 2021 sales.

Parent Company: Masco Corp.

In May of 2022, Behr Paint Company launched BEHR® COPPER FORCE™ interior paint, which transforms and expands the role of paint by affording homeowners, residents and building occupants an extra layer of protection against bacteria and viruses, including SARS-CoV-2. This new product, powered by Corning® Guardiant® antimicrobial technology, kills 99.9% of viruses and bacteria within two hours of exposure on the painted surface for a period of six years.

In June 2022, the company introduced BEHR PREMIUM™ spray paint, available nationwide in 51 colors, including new textured and metallic finishes. The aerosol spray paints feature an enhanced formulation that combines paint and primer properties in a single can, delivering a premium, durable finish to help revitalize furniture and décor items inside and outside of the home.

Source: Masco Corp. Annual Report, company website, press releases

6. Benjamin Moore & Co.

Montvale, NJ


Chairman and CEO: Dan Calkins

2022 Coatings Sales: $990 million (as estimated by Dun & Bradstreet)

Full details
Founded in 1883, Benjamin Moore manufactures premium residential, commercial and industrial maintenance coatings. The company became a subsidiary of Warren Buffett’s Berkshire Hathaway in 2000 and is part of Berkshire Hathaway’s’ building products portfolio.

Benjamin Moore brands include Aura®, Regal® Select, Ultra Spec®, ben®, ADVANCE®, ARBORCOAT®, and more. The Benjamin Moore diversified brands include specialty and architectural paints from Coronado® and Insl-x®. The company has an expansive color portfolio of over 3,500 colors. Benjamin Moore paints are available exclusively from 8,000 locally owned and operated paint, decorating and hardware retailers throughout the United States and Canada, as well as 75 countries globally. Selected products manufactured by Benjamin Moore are sold at Ace Hardware stores. In 2020, Benjamin Moore assumed responsibility for manufacturing Ace’s Clark+Kensington® and Royal® brands, and the rest of Ace’s private-label brands

Parent Company: Berkshire Hathaway

Notes: In March 2022, Gemini Coatings entered into an agreement to acquire Lenmar® Wood Finishes & Coatings from Benjamin Moore. That month, Benjamin Moore also introduced Fresh Start Undercoater and Primer/Sealer, a new premium alkyd primer for interior surfaces that offers superior sealing and stain blocking. The full line includes The High-Hiding All-Purpose Primer, The Undercoater and Primer/Sealer, The All-Purpose Primer, and The Deck and Siding Primer.

In April 2022, the American Coatings Association (ACA) announced new leadership appointments to its board of directors. Dan Calkins, Chairman and CEO of Benjamin Moore, now serves as ACA Chairman.

Also in 2022, Benjamin Moore was recognized once again in the J.D. Power 2022 U.S. Paint Satisfaction Study. The paint leader earns the highest ranking in customer satisfaction with interior paints. Benjamin Moore independent retailers were awarded Best in Customer Satisfaction among paint retailers. The satisfaction study measures key drivers among consumers who have purchased and applied interior paint, examining their behaviors and experiences during the year.

Source: Berkshire Hathaway Annual Report, press releases

7. Innovative Chemical Products (ICP) Group

Andover, MA


CEO: Doug Mattscheck

2022 Coatings Sales: $894 million

Full details
A specialty chemical company engaged in the formulation, manufacture and marketing of coatings and adhesives, Innovative Chemical Products (ICP) Group has operations headquartered in Andover, Massachusetts, and Tampa, Florida, with more than 25 additional manufacturing and distribution locations throughout the United States, Europe, Mexico, and Australia.

A portfolio company of Audax Private Equity, ICP Group manufactures products under several recognized brands through two distinct business units. ICP Building Solutions Group focuses on product solutions dedicated to delivering high-performance professional products and services for building and construction applications.

Notes: In January 2022, ICP Group announced a new brand identity that acts as a guiding principle and promise that encompass who ICP is and what they do: Connections that Endure. With the new brand identity, the company also released a new logo.

In July 2022, ICP Building Solutions Group named Sami Rahman, an experienced veteran of the building materials industry, as its new Chief Commercial Officer. Rahman will focus on setting and executing the overall commercial strategy for the group as the company pursues its financial goals. All ICP Building Solutions Group sales teams, research and development, product management, and marketing report to Rahman. Rahman joined the group in late 2021 as its Senior Vice President of product management, and was quickly promoted to the role of Executive Vice President of product management and technology.

In August 2022, ICP Group released a clear traction coating, STAIN-PROOF®, for stone, concrete, ceramic, and more. The new product adds grip to slippery surfaces while still maintaining a natural look without any blotchy, hazy spots.

Source: Company contact, press releases

8. Shawcor Ltd.



CEO: Mike Reeves

2022 Coatings Sales: Approx. $592 million USD

Full details
Shawcor Ltd. is a global company serving various sectors of the infrastructure, energy, and transportation markets through three reporting segments: Pipeline and Pipe Services, Composite Systems, and Automotive and Industrial. The company operates through a global network of fixed and mobile manufacturing and service facilities The company’s Pipeline Performance Group provides field-applied coating systems, factory-applied coating systems, and logistics solutions. The division provides specialized coating systems and related services for corrosion protection, insulation, and weight coating applications on land, and marine pipeline, including highly engineered corrosion and insulation systems for deep-water applications.

In 2022, the company reported total revenue of $1.255 billion Canadian dollars, of which approximately $801 million Canadian dollars was reported as revenue from the sale of products and approximately $453 million Canadian dollars from the sale of services. Coatings sales are reported based on the company’s reported sale of products for 2022.

Notes: In 2022, Shawcor was awarded two large pipe coating contracts. In August, the Pipeline Performance Group received a formal contract valued at approximately C$500 million from Transportadora de Gas Natural de la Huasteca, S. de R.L. de C.V. (“TGNH”), the Mexican subsidiary of TC Energy Corporation, to supply pipe coating services on the Southeast Gateway Pipeline project, an off-shore natural gas pipeline in southeast Mexico. In December, the company received project agreements that, in aggregate, are valued over $200 million and include a letter of intent from Saipem for a deep-water development project in South America and two binding letters of intent and two purchase orders the provision of insulation coating services on four Brazilian offshore projects.

Source: Consolidated financial statements, press releases

9. Lanco Paints & Coatings (Blanco Group)

San Lorenzo, Puerto Rico


CEO: Sergio Blanco

2022 Coatings Sales: $400 million

Full details
Since beginning operations in 1978, Lanco Paints & Coatings' mission has been one of superior customer satisfaction centered on a drive to produce the best quality products. Lanco’s product line encompasses applications ranging from architectural coatings and wood finishes to industrial adhesives and high-performance sealants. This family owned company has grown to an international enterprise with manufacturing facilities in the United States, the Caribbean, Central America, and South America. It currently has 13 manufacturing facilities and four distribution centers, employing over 2,300 people.

The company reports 84% of sales are within the architectural/decorative segment, 15% of sales are in the general industrial and industrial maintenance segment, and 1% of sales are in the automotive refinish segment.

Source: Company contact

10. Cloverdale Paint Inc.

Surrey B.C., CanadaSurrey B.C., Canada


Rodda Paint Co.

Portland, OR


Chairman and CEO: Tim Vogel

2022 Coatings Sales: $374.7 million

Full details
Cloverdale Paint operates manufacturing plants directly and through a subsidiary company, Rodda Paint Co., in Surrey, British Columbia; Portland, Oregon; Winnipeg, Manitoba; Mississauga, Ontario; Oakville, Ontario; London Ontario; and Calgary, Alberta. The company distributes architectural coatings and related products through 137 distribution points throughout Canada and the Pacific Northwest, including Alaska. Cloverdale’s industrial maintenance, protective coatings and OEM products are distributed through its corporate stores and through industrial distribution service centers located in Surrey, British Columbia; Calgary, Alberta; Edmonton, Alberta; Winnipeg, Manitoba; Mississauga, Ontario; London Ontario; Portland, Oregon; and Montreal, Quebec.

Notes: In April, 2022 Rodda Paint completed the acquisition of Primer Specialties located in Vancouver, Washington. This acquisition provides Rodda Paint with valuable capacity as well as an opportunity to participate in the “specialty primer” business in the Pacific Northwest.

Source: Company contact, company website

11. Kelly-Moore Paint Co., Inc.

San Carlos, CA


Chairman and CEO: Steve De Voe

2022 Coatings Sales: Approx. $342 million (PCI estimate)

Full details
Founded in San Carlos, California, in 1946 by William Kelly and William Moore, Kelly-Moore Paint Company has been a staple in the paint industry. With a state-of-the-art manufacturing facility in Texas and more than 280 retail outlets, Kelly-Moore’s 1,200+ employees are located across California, Nevada, Oklahoma, and Texas.

Kelly-Moore Paints, a Flacks Group Company, produces and sells some of the most technologically advanced paint products and sets the industry standard for new product development and quality control.

Notes: In September 2022, Flacks Group, a global investment firm based in the U.S., announced it had acquired Kelly-Moore Paint Company. Financial terms of the transaction were not disclosed. “This is an exciting time for Kelly-Moore Paints,” said Steve De Voe, Chairman and CEO of Kelly-Moore Paints. “Our customers are at the center of everything we do and under the ownership of Flacks Group, we will have the resources and ability to continue to innovate and deliver the best products and experiences to our customers in the professional paint industry and remain highly competitive in the marketplace.”

Parent Company: Flacks Group

Source: Company contact, press releases, company website

12. Diamond Vogel

Orange City, IA


President/CEO: Jeffrey Powell

2022 Coatings Sales: $225 million

Full details
Diamond Vogel provides coating solutions throughout North America to the industrial, architectural, industrial wood, aerosol, traffic, and toll manufacturing markets. Founded in 1926 in Orange City, Iowa, the company manufactures both liquid and powder coatings sold under the brands of Diamond Vogel, Old Masters, and Van Sickle. Diamond Vogel operates a network of eight manufacturing facilities, shipping coatings throughout North America and 40 company-owned stores located in 11 Midwestern states.

Notes: In April 2022, the American Coatings Association (ACA) announced new leadership appointments to its board of directors. Jeffrey J. Powell, President and CEO of Diamond Vogel Inc., is the new ACA Vice Chairman and Treasurer.

In September 2022, Diamond Vogel announced its sponsorship of the Woodwork Career Alliance (WCA) to further support the woodworking industry, and the educational programs designed to help those entering a woodworking career.

Source: Company contact, press releases

13. True Value Company



CEO: Chris Kempa; CFO: Jeff Olson

2022 Coatings Sales: $160 million

Full details
True Value LLC is one of the world’s largest hardware wholesale distributors. It includes approximately 4,500 independent retailer locations worldwide operating under the True Value, True Value Rental, Home & Garden Showplace, and Induserve Supply stores. True Value LLC manufactures paint brands for True Value retailers and third-party customers. Its EasyCare brand of interior and exterior paints and Majic paints are manufactured in Cary Il and distributed globally to hardware and farm/Ag retail stores.

Notes: In March of 2022, True Value Company announced the acquisition of The Yenkin-Majestic Paint Co, an Ohio-based manufacturer of coatings and coatings resins, producing architectural coatings for home, agricultural, and specialty applications under the Majic brand name.

In September of 2022, True Value Company announced the launch of EasyCare LimitLess®, a super-premium interior paint. The product is the latest addition to the company’s paint lineup and slots into its painting-a-room anchor assortment, which gives consumers every product they need to complete a paint project.

Source: True Value Corporate Communication Department, press releases

14. Hentzen Coatings Inc.

Milwaukee, WI


Chairman and CEO: Albert Hentzen

2022 Coatings Sales: $145-$150 million

Full details
Over its 100-year history, Hentzen Coatings has grown from a simple paint manufacturing company into a recognized leader of liquid and powder coatings. Still a family business, Hentzen Coatings’ deep roots in chemical engineering have led to nearly a century of innovative, high-quality, customized coatings for the aerospace, defense, and general industrial markets. With operations in Wisconsin, Illinois, South Carolina, Florida, and Queretaro, Hentzen continues to demonstrate its commitment to employees, the community, and the environment.
Starting as a simple paint manufacturing company in Milwaukee, Wisconsin, Hentzen now serves a worldwide market with facilities and distribution centers located across six continents. With cutting-edge facilities and vertically integrated systems from order intake through delivery, the company provides rapid response to custom solutions. Its Milwaukee, Batavia, and Greenville facilities are ISO9001 and AS9100 certified. Hentzen’s labs provide a clean and safe environment while maximizing efficiencies and fostering the development of innovative coating technologies for years to come.

Source: Company contact, company website

15. Tnemec Company, Inc.

Kansas City, MO


CEO/President: Chase Bean

2022 Coatings Sales: $129.58 million

Full details
A manufacturer of industrial and architectural protective coatings, Tnemec Company, Inc. supplies high-performance coatings and linings for water tanks, wastewater treatment plants, industrial facilities, and specialty architectural structures. In operation since 1921, the company offers over 120 products, including the StrataShield line of resinous floor and wall coatings, and Chemprobe water repellents and stains for concrete, masonry, and wood. The company has manufacturing facilities in Kansas City, Missouri; Baltimore, Maryland; Dallas, Texas; and Shanghai, China. It operates distribution facilities in Atlanta, Georgia; Dallas, Texas; Indianapolis, Indiana; New Orleans, Louisiana; Seattle, Washington; and Compton, California.

Notes: In July 2022, Tnemec welcomed Brian Cheshire as the new Sales Director of Water & Wastewater. Cheshire, a 20-year veteran in the coatings industry, will focus on the overall market strategy and sales activity for this key market. Cheshire’s appointment comes after the former sales director, Vaughn O’Dea, was promoted to Director of Epoxytec, a subsidiary of Tnemec.

In August 2022, Tnemec Company Inc. announced the release of its high-solids epoxy linings, Series 21 Epoxoline. The product is designed for use on potable water tanks, water pipes, pumps, valves, and fittings, providing protection to both concrete and steel substrates. This two-component, phenalkamine epoxy is also specially formulated to meet the more stringent NSF 600 extraction requirements. For water tank applications, Series 21 also conforms to the requirements of AWWA D102-21 Inside Coating Systems No. 1, 2, 5, and 6.

That same month, the company announced Jennifer Gleisberg as the new Senior Manager of Performance Coatings. Gleisberg will provide assistance on a broad range of performance coating applications, as well as concentrate on sales and development of key performance coatings.

Source: Company contact, press releases

16. IFS Coatings Inc.

Gainesville, TX


President/CEO: Glynn Mason

2022 Coatings Sales: $110-130 million

Full details
IFS Coatings is a privately owned powder coatings company that supplies innovative and sustainable thermosetting and thermoplastic powder coatings for metal and heat-sensitive substrates to industries and consumers across North America and beyond. With a focus on unparalleled service and solving customer problems, the company provides environmentally responsible powder products that deliver performance, protection and aesthetics to the architectural, automotive, appliance, furniture, hardware, industrial, interiors, job shop, and retail markets. Brands include IFS Coatings, Polychem and OpenThrottle. With ISO 9001:2015-certified manufacturing facilities in Texas and Oklahoma, and a network of warehouses across the United States, the company serves customers in the United States, Canada, South America, and beyond.

Notes: In 2022, IFS Coatings completed the construction of phase one of a new facility located next to the company’s headquarters and manufacturing plant in Gainesville, Texas. The new building accommodates increased capacity and new technology, and includes space for manufacturing, warehousing, and development projects.

Source: Company contact, press releases

17. Gemini Coatings Inc.

El Reno, OK


CEO/President: Chris Hicks

2022 Coatings Sales: Over $100 million

Full details
Gemini Coatings is an employee-owned company that manufactures and distributes an extensive line of quality interior and exterior wood coatings for professional wood finishers, manufacturers, distributors, and consumers. Additionally, Gemini offers the power of Italian coatings technology with the Sirca® North America coatings line that is manufactured in its water-based facility at its headquarters in El Reno, Oklahoma.

Gemini has two manufacturing plants and seven distribution facilities that provide nationwide service as well as a team offering sales and technical support. The Gemini brand family includes Gemini® Wood Finishes, Sirca® North America, EVO® water-based coatings, Lenmar® Fine Wood Finishes, TWP® Total Wood Protectant exterior wood finishes, Master’s Magic® and Zero Rust®.

The brand family offers a wide range of products suitable for cabinetry, furniture, architecture and millwork, wood flooring, exterior shake, facia, decks, siding, fences, and more.

Parent Company: Gemini Industries

Notes: Gemini most recently acquired substantially all of the assets of Rudd Company, Inc., an independently owned wood coatings manufacturer based in Seattle, Washington. The acquisition includes the Rudd® Wood Finishes and Glitsa® Wood Floor Finishes product lines. Gemini reports that the company is looking forward to building relationships with the Rudd and Glitsa customers, and offering current customers new solutions for their wood coating needs.

Source: Company contact

18. Farrell-Calhoun Inc.

Memphis, TN


President: Anthony Ward

Chairman of the Board: Derek Ward

2022 Coatings Sales: $71.39 million

Full details
Founded by John J. Farrell and T. Finley Calhoun, Farrell-Calhoun has been supplying the Southeast and Mid-South with premium-quality paints and coatings for over 115 years. Farrell-Calhoun is a manufacturer of architectural and industrial-maintenance coatings. The company has distribution throughout the Mid-South and Southeast through 43 company-owned stores and a network of around 138 dealers.

Notes: In 2022, former President/CEO John A. Ward Jr. retired. His sons now lead the company. Anthony Ward, is now the President, and Derek Ward, is the Chairman of the Board, in charge of Manufacturing and Technical.

Source: Company contact, press releases

19. Sheboygan Paint Co.

Sheboygan, WI


President and CEO: Paul Krueger

2022 Coatings Sales: $60 million

Full details
Sheboygan Paint Co. is an independent manufacturer of industrial finishing solutions. Established in 1921, the company manufactures a diverse portfolio of product lines for OEM and refinish applications, serving a variety of customers including those in the transportation, waste containers, drums and cylinders, and general metal segments. Technologies include two-component epoxy, zinc-rich epoxy, and polyurethanes as well as conventional high solids solvent-based, and waterborne and water-reducible coatings. Sheboygan Paint operates two manufacturing and full-service laboratory facilities in Sheboygan, Wisconsin, and Cedartown, Georgia, with distribution centers in Philadelphia, Pennsylvania, and Los Angeles, California.

Notes: In August 2022, Sheboygan announced that Cynthia Baricos had been promoted to Vice President of Research & Development. In this role, she will direct the Research & Development team to ensure Sheboygan Paint Company maintains its competitive advantage in the marketplace by developing innovative coatings solutions for customers. Additionally, she is responsible for the strategy and execution of the organization’s Quality Management Systems, ensuring process efficiency while maintaining excellence in quality by focusing on analytics and capital investments.

In September 2022, the company’s patent-pending MachCure catalyst technology was nominated for the Coolest Thing Made in Wisconsin contest, sponsored by Wisconsin Manufacturers & Commerce. This catalyst is one of the company’s wide variety of industrial coatings, with the goal of being more environmentally friendly. MachCure has the potential to displace conventional solventborne technology.

In December 2022, Sheboygan Paint Co. announced the appointment of its new President and CEO, Paul Krueger, effective January 3, 2023. Krueger brings 35 years of industrial coatings experience to his new role. Former President and CEO Peter Kirton retired at the end of 2022.

Source: Company contact, company website, press releases

20. APV Engineered Coatings

Akron, OH


Chairman/CEO: David Venarge

2022 Coatings Sales: $39.1 million

Full details
Founded in 1878, APV Engineered Coatings develops and manufactures innovative coating products. The company originally produced wood varnishes and enamels, most notably a unique and faster-drying black enamel for the Ford Motor Co.’s Model T. Today, APV provides coating solutions for some of the world’s top-producing manufacturers, with distribution in 26 countries. The company offers expertise in R&D, the commercialization of high-performance water- and solvent-based technologies, and contract manufacturing under private label. Its innovative solutions have been integrated into unique applications in a variety of industries, such as aerospace, industrial fabrics and textiles, tire and rubber goods, high-performance building products, and others. A licensee of Arkema Inc. in the use of Kynar® emulsion technology, APV has been developing and commercializing high-performance PVDF resin-based coatings for field and factory applications for more than a decade. APV’s top brands include NeverFade®, Vynguard®, Kapguard®, and Walkway®.

Notes: Exterior restoration projects using NeverFade® Coatings from APV were recognized with two industry awards in 2022: The Commercial Construction & Renovation Magazine Project Profile Award and the CoatingsPro Contractor Award. In addition, in 2023, APV is celebrating its 145th anniversary.

Source: Company contact, press releases

21. H-I-S Paint Manufacturing

Oklahoma City, OK


CEO: Joe T. Cox

Presidents: J. Kent Cox, Kirk Cox and Tony Cox

2022 Coatings Sales: $38-40 million

Full details
Celebrating 50 years of paint production, H-I-S Paint Manufacturing is a manufacturer of architectural and industrial coatings for numerous national and global markets. The company is known for its pharmaceutical formulation capabilities in various industrial markets that require compliant technologies to perform in every condition. H-I-S currently operates out of two manufacturing facilities in Oklahoma City. Brands include Life-Kote and Master Thane within the industrial division, and Country Classic, Imperial, and Valor within the architectural division.

Source: Company website, company contact

22. Richard’s Paint Mfg. Co. Inc.

Rockledge, FL


President/CEO: Eric Richard

2022 Coatings Sales:  $30.59 million

Full details
Founded in 1954 by Edward and Joseph Richard, Richard’s Paint Mfg. Co. Inc. is a privately owned company that provides a full range of architectural, commercial, industrial, and specialty coatings. With 120 employees, Richard’s Paint products are sold in the United States, Bahamas, and Caribbean Islands, as well as Central America and overseas.

Source: Company contact, company website

23. Fortech Products Inc.

Brighton, MI


CEO: Creighton E. Forester

2022 Coatings Sales: $22 million

Full details
Fortech Products is a global manufacturer of TechKote, a series of low-VOC, water-based, high-heat, corrosion-resistant coatings, as well as its TechDraw forming lubricants, TechKool metalworking lubricants, TechKleen industrial cleaners, and TechPro rust preventives, holding various OEM approvals.

Fortech is a leading automotive industry supplier of rear axle, propshaft, power steering pump, engine pulley and damper coatings with their TechKote WA 2951 F/FE series followed by the next-generation TechKote WA FEX corrosion-resistant coatings. Fortech has since expanded its industry capabilities moving into the commercial truck, and off-highway agricultural industries, supplying TechKote (WA 2975 R) water-based, extreme chip-resistant coatings, TechKote WB 2804D steel structural joist primer, as well as the TechKote WB 2525 series for OCTG pipe coatings. These products are fortified with superior adhesion properties that may be applied over bare steel with less-than-ideal surface preparation.

Notes: In March 2022, Ford Motor Co. awarded Fortech Products Q1 certification for the quality performance of its production facility in Brighton, Michigan. The Ford Q1 award recognizes a select group of Ford suppliers for excellence in a wide variety of areas, including manufacturing processes, continuous improvement, on-time delivery, service and overall customer satisfaction.

For 2023-2024, Fortech looks forward to further diversification, continually pursuing additional commercial truck, agricultural and other industrial market opportunities.

Source: Company contact

24. NAPCO Ltd.

Skokie, IL


CEO: Dani Nichols

2022 Coatings Sales: $10-15 million

Full details
In operation since 1979, NAPCO provides products and training for bathtub, tile, shower, and countertop refinishers. Today, NAPCO is a premier supplier to the refinishing industry. The company provides custom colors for kitchen and bath coatings, waterborne coatings, a four-hour coating, and a low-VOC two-hour coating. Continuing its commitment to innovation, NAPCO pioneers eco-friendly solutions whenever possible. NAPCO serves all 50 states and six foreign countries. The company just recently added Denmark to the list of international distributors.

NAPCO reports that it is the only manufacturer in the refinishing industry with a 1K waterborne coating.

Notes: In March 2022, NAPCO announced that Dani Nichols had been promoted to the role of Chief Executive Officer. Ms. Nichols has been with the company since 1996 and has been serving as President since 2018. NAPCO’s emphasis on customer service made the business an excellent cultural fit for Nichols, who had initially come to Chicago to pursue a career in acting. Within a short time of her initial job as a customer service representative for NAPCO, Nichols was leading the department and soon after took on the role of vice president, which she held for 14 years. NAPCO’s focus on growth for employees and trainees laid the groundwork for Nichols’ leadership role to evolve.

In August 2022, the company was featured in Modern Home Builders magazine for its high-quality products, innovative training, and the latest addition to its European expansion.

Source: Company contact

25. Induron Coatings, Inc.

Birmingham, AL


President: Davies Hood

2022 Coatings Sales: Below $10-15 million

Full details
Induron Protective Coatings is a third-generation, family owned manufacturing company with deep roots in Birmingham, providing excellent products and high-quality service to the area, as well as national and international markets. Founded in Birmingham in 1947 under the name The Industrial Paint Manufacturing Co. Inc., Induron has evolved into a protective coatings business that has grown to include sales associates across the United States as well as an ever-expanding product line. Induron manufactures high-performance coatings that serve a range of industrial applications, including the wastewater; electrical transmission and distribution; and potable water storage, treatment and transmission industries.

Source: Company contact