Cleveland, OH
216/566.2000
Chairman/CEO in 2023: John G. Morikis (currently Chairman)
President/COO in 2023: Heidi G. Petz (currently CEO)
www.sherwin-williams.com
2023 Coatings Sales: Approx. $18.44 billion

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 Paint Stores Group, the Consumer Brands Group, and the Performance Coatings Group.

Sherwin-Williams reported total consolidated sales for 2023 of approximately $23.05 billion. It is estimated that approximately 80% of sales, or about $18.44 billion, represents coatings sales, with the remainder being related to products such as floor coverings, application supplies, and wallcoverings. The Paint Stores Group reported a net sales increase of 7.3% to $12.8 billion in 2023, which accounts for 56% of total 2023 sales for the company. Net sales in the Consumer Brands Group decreased 0.7% in 2023 to $3.4 billion. This accounts for 14% of 2023 total sales. The Performance Coatings Group reported a 0.7% increase in net sales in 2023 to $6.8 billion. Performance Coatings Group sales represent 30% of total sales for 2023.

The Paint Stores Group operates the exclusive outlets for Sherwin-Williams^®-branded paints, stains, supplies, equipment and floor covering in the United States, Canada, and the Caribbean region. Products sold in this group include paints, stains, aerosols, applicators, caulks, varnishes, protective and marine coatings, spray equipment, and related products in the United States, Canada and the Caribbean. Wall covering and floor coverings in the United States, Canada and the Caribbean. Brands include Sherwin-Williams^®, A-100^®, Builders Solution^®, Captivate^®, Cashmere^®, Duration^®, Emerald^®, Gallery Series^™, Kem Tone^®, Latitude^®, Loxon^®, Metalatex^®, Novacor^®, Painters Edge Plus^™, ProClassic^®, ProCraft^®, Pro Industrial^™, ProMar^®, Scuff Tuff^®, SuperDeck^®, SuperPaint^®, and Woodscapes^®. The Group operates 4,694 Sherwin-Williams paint stores in the United States, Canada, and the Caribbean.

The Consumer Brands Group sells branded and private-label products through retailers and distributors in North America and Europe. Products sold in this group include branded, private-label and licensed brand paints, stains, varnishes, industrial products, wood finishing products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks and adhesives, and related products. Brands include Cabot^®, Colorgin^®, Condor^®, Dupli-Color^®, Dutch Boy^®, Geocel^®, HGTV HOME^® by Sherwin-Williams, Krylon^®, Minwax^®, Purdy^®, Ronseal^®, Sherwin-Williams^®, Thompson’s^® WaterSeal^®, Valspar^®, and White Lightning^®. The group has over 10,000 points of distribution with leading mass merchandisers, home centers, independent paint dealers, hardware stores, craft stores, fine art stores, automotive retailers and industrial distributors in the United States, Canada, and Europe. There are 318 Sherwin-Williams paint stores in Brazil, Chile, Ecuador, Mexico, and Uruguay, as well asdedicated dealers, home centers, distributors, and hardware stores in Argentina, Brazil, Chile, Ecuador, Mexico, and Uruguay. A licensee in El Salvador serves Central America.

The Performance Coatings Group sells coatings and finishing solutions to customers in the general industrial, industrial wood, protective and marine, automotive refinish, packaging, and coil markets. Brands include Sherwin-Williams^®, Acrolon^®, AcromaPro^®, ATX^®, DeBeer Refinish^®, Duraspar^®, EcoDex^®, Envirolastic^®, Excelo^®, EzDex^®, Fastline^®, Firetex^®, Fluropon^®, Gross & Perthun^TM, Heat-Flex^®, House of Kolor^®, Huarun^®, ICA^®, Inver^®, Kem Aqua^®, Klumpp Coatings^TM, Lazzuril^®, Macropoxy^®, Martin Senour^®, Matrix Edge^®, M.L. Campbell^®, Octoral^®, Oskar Nolte^TM, Perma-Clad^®, Polane^®, Powdura^®, Sayerlack^®, Sher-Wood^®, Sumaré^®, Ultra 9K^®, Ultra 7000^®, ValPure^®, and Valspar^®. Company-operated branches and facilities serve automotive, general industrial, industrial wood, and coil customers 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.

Notes: The Sherwin-Williams Company has continued its “The Building Our Future” project consisting of a new global headquarters located in downtown Cleveland, and a research and development center located in Brecksville, Ohio. The new headquarters will offer more opportunities to celebrate the Sherwin-Williams brand, as well as act as a catalyst for future development in and around its new campus. The R&D center will be responsible for product development, coatings research, color technology, and process engineering. The new facilities will house more than 4,000 employees made up of professional staff, engineers, technicians, and chemists, with room to accommodate future growth. The transition to the new facilities is expected to occur by the end of 2024. In July 2023, the company, along with the project’s construction workers, celebrated a ‘topping-off’ with the placement of the final steel beam for the R&D center. This milestone marked the completion of the construction project’s structural work, a project that began with a groundbreaking ceremony in October of 2021.

In April of 2023, the company completed the divestiture of a non-core domestic aerosol business within the Consumer Brands Group. The business manufactures and sells decorative paints under the Huarun^® brand name in China, has annual revenue of approximately $100 million USD and employs approximately 300 people. The business was sold to AkzoNobel.

On August 7, 2023, Sherwin-Williams reported an explosion at its manufacturing facility in Garland, Texas, which resulted in a fire. One employee had minor injuries, and there were no fatalities. The source of the fire was unknown, but likely started near the utility and resin manufacturing area of the building. As a result, the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) assessed $290,358 in proposed penalties for the company.

In October 2023, The Sherwin-Williams Company announced that its Board of Directors elected Heidi G. Petz to serve as the Company's next Chief Executive Officer (CEO), effective January 1, 2024. Petz served as President and Chief Operating Officer of Sherwin-Williams for the last two years. After serving as CEO since 2016, John G. Morikis will continue to serve as Executive Chairman. In addition, the Board increased its size from 10 to 11 members and elected Petz to fill the resulting vacancy, effective October 10, 2023.

Also in October 2023, the company completed the acquisition of German-based SIC Holding GmbH, a Peter Möhrle Holding venture comprised of Oskar Nolte GmbH and Klumpp Coatings GmbH (SIC Holding). This business specializes in foil coatings as well as radiation-cured and water-based industrial wood coatings for the board, furniture, and flooring industries. The company funded the acquisition with approximately $265 million in cash. The purchase price is subject to certain closing conditions which are expected to be finalized in 2024. As of December 31, 2023, $110.8 million of finite-lived intangible assets, $154.2 million of goodwill, $46.1 million of other assets, net of cash and $46.7 million of liabilities were recognized from this transaction.

Source: Annual Report, company website, press releases, www.reuters.com, www.wfaa.com

Image courtesy of the Associated Press.

Pittsburgh, PA
412/434.3131
President/CEO: Tim Knavish
www.ppg.com
2023 Coatings Sales: $18.2 billion

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 70 countries and reported net sales of $18.2 billion in 2023, up about 3.4% versus the prior year. PPG serves customers in the construction, consumer products, industrial and transportation markets, and aftermarkets.

Organic sales were up by 3%, driven by higher selling prices resulting from continued selling price initiatives. The increase was led by growth in aerospace coatings and automotive OEM coatings despite lower global industrial production. Net income in 2023 increased versus 2022 due to lower raw material costs, partially offset by higher selling, general and administrative expenses, and lower sales volumes. In 2023, the company paid $600 million in dividends. Additionally, the company recorded $17.5 million in global community giving, and $10.3 million was invested in advancing education in STEM.

Notes: PPG also continued to take actions to further advance its sustainability commitments. In 2023, the company became the first U.S.-based coatings manufacturer to receive validation from the Science Based Targets initiative (SBTi) for scope 1, 2 and 3 greenhouse gas emissions reduction targets. In addition, PPG announced 2030 sustainability goals that focus on driving sales of sustainably advantaged products that help its customers achieve their sustainability objectives while reducing the environmental impact of products. In 2023, 44% of sales were from products and processes that address multiple sustainability benefits, including lower volatile organic compound emissions, enhanced energy efficiency, improved durability, or the use of renewable raw materials.

In 2023, PPG completed 60 COLORFUL COMMUNITIES^® projects in 26 countries, reaching its 500^th project since the program’s launch in 2015. PPG has made a positive impact for more than 9.2 million people, with the help of 26,500 PPG employees and community members who have volunteered in 50 countries.

In April 2023, GLIDDEN paint by PPG became the primary paint brand at Walmart in the United States. Also in April, PPG completed a $15 million expansion of its Brazil, Indiana, powder coatings plant.

In May 2023, PPG launched paint films solutions for automotive and industrial customers through PPG Advanced Surface Technologies, a new joint venture formed with entrotech, Inc., a provider of technology-driven film solutions. Also in May, PPG announced a $44 million investment to upgrade five powder coating manufacturing facilities in the United States and Latin America. The projects are part of PPG’s strategic efforts to expand its powder coatings offerings and increase global production to meet growing customer demand for sustainably advantaged products. Collectively, the investment, $30 million for United States plants and $14 million for facilities in Latin America, is expected to increase overall capacity, add production capabilities for bonded metallic powders, improve processing times with automated packaging, and enhance capabilities to produce small, medium, and large batches.

In June of 2023, PPG opened a $30 million battery pack application center in China. That same month, the company launched low-temperature-cure electrocoats for automotive manufacturers—PPG ENVIRO-PRIME^® EPIC 200R coatings.

In August of 2023, PPG opened a customer and employee experience center at its global headquarters, marking the company’s 140^th anniversary.

In September of 2023, PPG completed the $2.7 million powder coatings factory expansion in Brazil, increasing the production capacity of the facility by 40%.

In October 2023, PPG announced that Tim Knavish was elected as PPG chairman and CEO, effective October 1, 2023. Knavish succeeds Michael McGarry who served as chairman and CEO from 2016 to 2022, and retired as executive chairman.

In December of 2023, PPG opened a $17 million aerospace application support center in France. The facility provides filling and packaging capabilities for aerospace materials, including coatings and sealants for a wide range of aircraft, as well as technical support and a laboratory.

Source: Company contact, Annual Report, press releases

Image courtesy of PPG.

Amsterdam
31.20.502.7833
CEO/Chairman of the Board of Management: Greg Poux-Guillaume
www.akzonobel.com
2023 Coatings Sales: Approx. $11.77 billion USD (€10.67 billion)

With operations in more than 150 countries, AkzoNobel is a leader in the manufacture of paints and coatings. In 2022, the company recorded a decrease in reported revenue of 2%, down from €10.85 billion in 2022 to €10.67 billion in 2023, although revenue was 5% higher in constant currencies. The company reported 2023 revenue in each region of the world as the following: Europe, Middle East and Africa (EMEA)—47%; North Asia—16%; South Asia Pacific—12%; North America—13%; and Latin America—12%. Volumes were flat for the year, and acquisitions added 2%.

AkzoNobel has two business units: Decorative Paints and Performance Coatings. In 2023, revenue from third parties in the Decorative Paints segment was €4.3 billion compared to €4.34 billion in 2022. Revenue from third parties in the Performance Coatings segment was €6.37 billion in 2023, compared to €6.5 billion in 2022.

Notes: In January of 2023, AkzoNobel announced that all its locations in North America are now operating on 100% renewable electricity, helping to drive the company’s ambition of reducing carbon emissions across the full value chain by 50% by 2030.

In May of 2023, AkzoNobel Packaging Coatings released a BPA-NI coating, Accelshield 700. The coating does not use BPA or bisphenol-based epoxies as part of its manufacturing process. It complies with both Food and Drug Administration (FDA) and EU regulations.

In June of 2023, the company received approval to supply its water-based refinish products to Porsche China.

In August of 2023, AkzoNobel completed the acquisition of the Chinese Decorative Paints business of Sherwin-Williams. The acquisition will further boost the company’s position in China and will allow further market segmentation and reinforce the company’s position outside of the premium segment. The business has an annual revenue of approximately €100 million and employs around 300 people. The transaction includes the Huarun decorative paints brand, which has a long history and is well recognized in China. News of the intended acquisition was first announced in April 2023.

In November of 2023, AkzoNobel and Kansai Paint mutually agreed not to proceed with the company's intended acquisition of Kansai's paints and coatings activities in Africa. Commenting on the decision, AkzoNobel CEO, Greg Poux-Guillaume, said, “It's disappointing that this intended acquisition cannot move forward, but we remain committed to our strong businesses and leading brands in Africa. As AkzoNobel’s performance rebound gathers pace, we'll remain focused on our key priorities, including the strengthening of our balance sheet, which will be accelerated.” The two companies have agreed that no break-up fee would be involved.

Also in November of 2023, AkzoNobel launched an industry-first architectural powder coating that can be cured at temperatures as low as 150 °C, while still being Qualicoat Class One certified.

In December of 2023, AkzoNobel’s Coil and Extrusion Coatings business signed a strategic agreement with China’s Wuxi El Pont Radiation Technology Co., Ltd. to develop a pioneering process that uses electron beams to cure coatings on metal substrates.

Also in December, the company announced revolutionary software, called Flightpath, co-developed by AkzoNobel’s Powder Coatings business and coatingAI that uses artificial intelligence to help customers improve the application process and reduce their carbon footprint.

Source: Company contact, Annual Report, press releases

Image courtesy of AkzoNobel.

Tokyo, Japan
(+81) 3-6433-0711
www.nipponpaint-holdings.com
Director, Representative Executive Officers & Co-Presidents: Yuichiro Wakatsuki and Wee Siew Kim
2023 Coatings Sales: $10.2 billion USD (Exchange rate $=￥141.2, average, as reported by the company)

In operation since 1881, Nippon Paint Holdings Co., Ltd. (NPHD) is one of the world’s leading automotive and decorative paint suppliers. It produces coatings for the automotive, marine, and industrial markets. It also makes paints for residential and commercial buildings as well as the DIY market. While most sales come from paint, Nippon Paint also has a small section that sells fine chemicals and surface treatment products. The Nippon Paint Group also operates the paint-related business that supplies Sealants, Adhesives and Fillers (SAF), and Construction Chemicals (CC), as well as decorative films. While mainly located in Asia, it also has facilities in Europe, the Americas, and Oceania.

Sales in 2023 for automotive coatings were approximately $1.29 billion. Decorative paints accounted for approximately $6.44 billion in sales. Sales of industrial coatings were approximately $639 million, and other paint accounted for approximately $1.84 billion.

The company has two subsidiaries in the United States under Nippon Paint Group: Nippon Paint Automotive Americas, Inc., a market leader for automotive coatings; and Dunn-Edwards Corp., a manufacturer of architectural and industrial coatings. It also has a subsidiary in Mexico, Nippon Paint Automotive Coatings Mexico, serving the automotive coatings market.

Notes: In 2023, NPHD completed the acquisition of NPT, a manufacturer of sealants and adhesives in Europe. It also acquired Alina, a manufacturer of paint and dry-mix mortars (adjacencies) in Kazakhstan. In FY2024, the company is scheduled to buyback two India businesses (NPI and BNPA).

Source: Financial results of FY2023, Annual Report, Integrated Report 2023, press releases.

Image courtesy of Nippon.

Medina, OH
330/273.5090
President/CEO: Frank C. Sullivan
www.rpminc.com
2023 Coatings Sales: $7.3 billion for fiscal year ended May 31, 2023

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 36% 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, and drainage systems for industrial and commercial use. Leading brands include Stonhard, Carboline, and Fibergrate. 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 35% 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, TCI, and Kop-Coat. 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 11% of RPM’s total sales.

Parent Company: RPM International Inc.

Notes: RPM continues to be active in pursuing acquisitions of successful entrepreneurial companies and product lines that complement its portfolio of specialty coatings, sealants, and construction chemicals businesses. Over the last 30 years, RPM has completed more than 175 acquisitions, with more than 60 of these transactions being completed during the last decade. RPM completed six strategic business acquisitions in fiscal 2023.

In January of 2023, RPM appointed Andrew G. Polanco as Vice President, Manufacturing, replacing Gordon M. Hyde, who retired.

In March of 2023, RPM announced a partnership with Cleveland State University for a new environmental graduate education program and career placement. The partnership will provide world-class graduate-level education at discounted rates for three current environmental graduate programs: Master of Arts in Environmental Studies, Master of Science in Environmental Engineering, and Master of Science in Environmental Science.

In October of 2023, RPM acquired leading panelized wall systems fabrication business, NOW Specialties, LLC, and is now part of RPM’s Tremco Construction Products Group.

Source: Company contact, 2023 Annual Report, press releases

Image courtesy of RPM.

Philadelphia, PA
855/547.1461
President/CEO: Chris Villavarayan
www.axalta.com
2023 Coatings Sales: Approx. $5.2 billion

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 2023, the company reported 40% of its sales were in North America, 34% in EMEA, 15% in Asia-Pacific, and 11% in Latin America.

Axalta operates in two business segments: Performance Coatings and Mobility Coatings. In 2023, Performance Coatings accounted for $3,407.7 million in sales (65.7% of overall sales). This segment includes refinish coatings, which recorded $2,084.3 million in sales, and industrial, which recorded $1,323.4 million in sales. Brands include Cromax^®, Standox^®, Spies Hecker^®, Syrox^™, and Raptor^®.

Axalta’s Mobility Coatings segment recorded sales of $1,776.4 million (34.3% of overall sales). Within this segment, light vehicle coatings accounted for $1,340.4 million in sales, while commercial vehicle coatings accounted for $436 million in sales. In terms of end markets, refinish coatings accounted for 40% of net sales in 2023, while industrial coatings accounted for 26% of sales. The light vehicle end market accounted for 26% of 2023 total sales, and commercial vehicles accounted for 8%.

Notes: In February of 2023, Axalta Coating Systems announced that it was the recipient of three prestigious 2023 Edison Awards. Axalta’s Abcite^® 2060 Flame Spray Powder Coating, AquaEC^® Flex, and Self Priming Kitchen Cabinet Coating won for the Sustainability, Smart Transportation, and Material 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. The AquaEC^® Flex Broad Bake Electrocoat also won a 2023 BIG Innovation Award, presented by the Business Intelligence Group (BIG). The annual business awards program recognizes organizations, products and people that bring new ideas to life in innovative ways.

In July 2023, the company appointed Carl Anderson as Senior Vice President and Chief Financial Officer, effective August 14, 2023, replacing Sean Lannon.

In August of 2023, Axalta announced that it was the recipient of a 2023 R&D 100 award in the Mechanical and Materials category for its next-generation Imron^™, a coating technology that delivers sustainability benefits and improves production cycle time for transportation customers. Since 1963, the R&D 100 awards program has recognized the top 100 revolutionary technologies from the world’s leading Fortune 500 companies, federally funded research institutions, academic and government labs, and smaller companies.

Also in August, Axalta announced a partnership with Xaar to introduce a new digital paint technology for the transportation industry. Axalta NextJet^™ enables design flexibility for two-tone vehicles and allows customers to create patterns, details, and images in a sustainable way.

In September 2023, the company announced that Senior Vice President, General Counsel and Corporate Secretary, Brian Berube, would retire at the end of 2023 and be replaced by Alex Tablin-Wolf, effective January 1, 2024.

In October 2023, Axalta was named the exclusive supplier for BMW Group’s private paint label ColorSystem in the EMEA. As part of the agreement that runs through December 2028, Axalta will also provide its latest, innovative Fast Cure Low Energy technology paint system. This system has the potential to reduce carbon equivalent emissions and energy consumption by up to 45% as compared to standard paint technologies.

Source: Annual Report, press releases

Image courtesy of Axalta.

Münster, Germany (global headquarters)
Southfield, MI (North American headquarters)
248/304.5413
President: Uta Holzenkamp
www.basf-coatings.com
2023 Coatings Sales: Approx. $4.8 billion (€4.4 billion)

The Coatings division of BASF is a global expert in the development, production, and marketing of innovative and sustainable automotive OEM and refinish coatings, decorative paints as well as applied surface treatments for metal, plastic, and glass substrates in a wide range of industries. This portfolio is supplemented by "Beyond Paint Solutions," which enable new applications with innovative surfaces. The company creates advanced performance solutions and drives performance, design, and new applications to meet its partners’ needs all over the world. BASF shares skills, knowledge, and resources of interdisciplinary and global teams for the benefit of customers by operating a collaborative network of sites in Europe, North America, South America, and Asia Pacific. In 2023, the Coatings division achieved global sales of about €4.4 billion.

Parent Company: BASF SE

Notes: In March of 2023, BASF Shanghai Coatings (BSC) announced the opening of its new technical center building at the BSC Minhang site. As one of the key highlights of the Minhang extension project, the launch of the technical center building marks another milestone. With the brand-new outlook, BSC will better serve automotive OEM customers in China with its technology, products, and services. Equipped with advanced laboratory facilities and a team of highly qualified and experienced staff, the new technical center building can provide customers with total solutions covering whole process from color design, styling and matching, to product development and launch based on its "color + innovation” studio. With the new set up, it will create high-quality colors, greatly reduce product development time and improve overall work efficiency.

In April of 2023, General Motors (GM) recognized BASF as a 2022 Supplier of the Year. GM’s Supplier of the Year award recognizes global suppliers that distinguish themselves by exceeding GM’s requirements, and provide innovative technologies at some of the highest quality in the automotive industry. This was the 16th time BASF has received the award.

Also in April 2023, BASF, THIELMANN, and NXTGN signed a Joint Development Agreement, laying the foundation for a strategic partnership in the field of intermediate bulk container (IBC) tracking. The product, named “Tracingo,” is integrated into NXTGN’s platform “ibc.digital.” Forwarding companies and manufacturers of all types of liquids can use “ibc.digital” to track and document the location of their containers, their fill level and conditions in real time. This transparency enables optimized resource planning, customized maintenance, and complete traceability.

In June 2023, BASF opened its Technology Competence Center at the facilities of BASF Española in Marchamalo (Guadalajara). The official opening ceremony was attended by the Regional Minister of Sustainable Development of Castilla - La Mancha, José Luis Escudero, as well as the Mayor President of the city of Marchamalo, Rafael Esteban Santamaría, among other institutional representatives. The representation of the company was headed by Uta Holzenkamp, President of the global Coatings division of the BASF group, Carles Navarro Vigo, General Manager of BASF Española, and Lars Kuellenberg, Site Manager of BASF Española S.L. in Marchamalo.

In July 2023, BASF Shanghai Coatings Minhang and Caojing sites in Shanghai, and BASF Coatings’ resin plant in Caojing, Shanghai, announced the use of 100% renewable energy usage across its operations in 2023. This moves BASF’s Coatings division one step closer to its global sustainability targets – on carbon reduction, material efficiency, and safe and sustainable solutions. Through combination of Renewable Direct Power Purchase, purchase of I-REC international renewable energy certificate and other measures, it’s estimated that BASF Automotive OEM Coatings will reduce the equivalent of approximately 19,000 tons of carbon emissions through the end of 2023 in China.

In September 2023, BASF Coatings released its Color Trends Collection. Each year, designers create a new collection of colors to inspire automotive designers around the globe. When BASF’s designers looked at what their trend signals were telling them, they realized it’s time for a color update, as the classic automobile color wheel has had its day. Non-classic automotive hues emerged, propelling colors through a series of shifts reflecting a positive mood, with a focus on lighter shades and the exploration of new, expressive color spaces. The collection, called ON VOLUDE, provides colors that also adopt an increasing focus on sustainability and functionality. As customers rely on the BASF collection to design automotive colors for their future models, consumers will see the new direction on the road or in the driveway in the next three to five model years.

Source: Annual Report, press releases

Image courtesy of BASF.

Osaka, Japan
81.6.6203 5531
President and CEO: Kunishi Mouri
www.kansai.com
2023 Coatings Sales: Approx. $3.71 billion USD (￥562,277 million) for fiscal year ending 3/31/24

Established in 1918, Kansai Paint Co. Ltd. is one of the largest coatings manufacturers in Japan and Africa. The company also holds leading market positions in China, India, and Southeast Asia, and has operations in Europe, the Americas, and the Middle East. The company supports customers in a range of markets, including automotive, industrial, building, and marine. Kansai Paint specializes in the manufacture and sale of many types of coatings, as well as the design, manufacture, and sale of coating equipment. It employs approximately 15,908 people.

Kansai Paint Co. Ltd.’s core business areas are automotive coatings, industrial coatings, decorative coatings, and marine and protective coatings. For the fiscal year ended March 31, 2024, the company reported net income of ￥562,277 million, up 10.5% compared to the fiscal year that ended March 31, 2023. Operating income for the same time period was ￥51,595 million, up 60.8% compared to the prior-year period.

In Japan, in the automotive coatings sector, the number of automobiles manufactured increased from the previous year, and net sales increased from the previous year. In the industrial coatings, decorative coatings, automotive coatings (for refinishing), and the protective coatings sectors, although market conditions were sluggish, efforts to improve selling prices led to a year-on-year increase in total sales. In the marine sector, sales increased from the previous year due to an increase in the volume of oceangoing ship repairs and the impact of a change in the fiscal year-end of a subsidiary that sells marine paints. Profits increased year on year due to lower prices for some raw materials, as well as efforts to improve selling prices. As a result of those factors, the segment’s net sales were 165,301 million yen (up 8.4% year on year).

In Turkey, the number of automobiles manufactured exceeded the previous year's level, and in other European countries, sales in the mainstay industrial coatings sector were firm. As a result of those factors, the segment’s net sales were 135,902 million yen (up 21.3% year on year).

In China, automobile production volume increased from the previous year, but demand from major customers was sluggish, resulting in a year-on-year decline in net sales. In Thailand and Indonesia, net sales increased from the previous year due to efforts to improve selling prices, despite a decline in automobile production. In Malaysia, automobile production was firm, and net sales increased from the previous year. As a result of those factors, the segment’s net sales were 71,876 million yen (up 5.6% year on year).

In Africa, the economies of South Africa and neighboring countries were slow to recover due to the effects of chronic power shortages and high prices, and demand was sluggish. In East Africa, the company focused on expanding sales in the decorative coatings sector, and efforts to improve selling prices resulted in higher sales than in the previous year, resulting in higher overall sales in Africa compared with the previous year. As a result of those factors, the segment’s net were 43,338 million yen (up 3.6% year on year).

In North America, the number of automobiles manufactured increased from the previous year, and net sales increased from the previous year. As a result of those factors, the segment’s net sales were 9,210 million yen (up 30.7% year on year).

Notes: In May of 2023, KANSAI HELIOS Coatings GmbH, a European consolidated subsidiary of Kansai Paint Co., Ltd completed its acquisition of the global Railway Coatings business assets from Beckers Group´s company Becker Industrie SAS. KANSAI HELIOS opened its first subsidiary in France, KANSAI HELIOS France SAS, which represents the entire industrial coatings expertise of the KANSAI HELIOS Group and will conduct the railway coating business acquired from Beckers.

In November of 2023, Kansai Paint announced that the company and AkzoNobel terminated the agreement to sell Kansai’s African business. Kansai Paint stated that it will continue to operate its African business and aim to strengthen its competitiveness in the African market, improve customer satisfaction and continue to contribute to the development of the African society.

Source: Annual Report, press releases

Image courtesy of Kansai Paint.

Mumbai, India
91.22.39818990
Managing Director/CEO: Amit Syngle
www.asianpaints.com
2023 Coatings Sales: Approx. $3.56 billion USD (₹29,643.64) for sales ended March 31, 2024

Founded in 1942, Asian Paints is now India’s leading paint company. Asian Paints produces a range of decorative and industrial coatings. The company recorded coatings sales for the period ending March 31, 2023, of 29,643.64 Crores. Asian Paints operates in four segments: Decorative, International, Industrial, and Home Decor. For the period ending March 31, 2024, the Decorative business accounted for 88.2% of revenue, while the International business accounted for a 9% share. In the Industrial business, the company operates through PPG Asian Paints Pvt. Ltd. (a 50:50 joint venture with PPG), which serves the Indian automotive, marine and packaging coatings markets, and Asian Paints PPG Pvt. Ltd., another joint venture with PPG that serves the industrial protective coatings, powder coatings, floor coatings, and road marking coatings markets in India. This segment accounted for 2.8% of the revenue for the period – PPG Asian Paints PVT Ltd. revenues not included). The company’s Home Decor business accounted for 4% of revenue for the period. Revenue from the Home Decor business is not included in the coatings sales numbers. The company and its subsidiaries have operations in 15 countries across the world with 26 paint manufacturing facilities. The company serves consumers in over 60 countries through Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans, and Kadisco Asian Paints.

Notes: In November of 2023, PPG Asian Paints, a provider of automotive refinish solutions in India, announced the launch of its premium car detailing and décor business, 'Cartisan,' with the opening of its flagship center in Pune, NIBM. This launch marked a significant endeavor of the company in catering to the automotive aesthetic needs of the city, its suburbs, and the nearby regions.

Source: Annual Report, company website, press releases

Image courtesy of Edifice.

Sandefjord, Norway
47.33.45.70.00
CEO: Morten Fon
www.jotun.com
2023 Coatings Sales: Approx. $3.13 billion USD (NOK 31,861 million)

Jotun specializes in sales of decorative, marine, protective, and powder coatings. The company reported sales for 2023 of NOK 31,861 million, an increase of 14% compared to sales for 2022. The sales growth was driven by increased volume and prices, as well as positive mix effects. The company operates in four business segments: Marine Coatings, Protective Coatings, Powder Coatings, and Decorative Paints. The Marine Coatings segment accounted for 27% of sales in 2023. The Protective Coatings segment accounted for 29% of sales in 2023. The Powder Coatings segment accounted for 7% of sales in 2023, and the Decorative Paints segment accounted for 37% of sales. Jotun Decorative supplies coatings for commercial buildings, public buildings, and homes, and serves both the professional and DIY customer directly and through a network of Jotun Multicolor Centers. A leader in marine coatings for the new-build, dry-dock, tank and cargo holds, and sea-stock markets, the Marine Coatings business also provides coatings for mega-yachts and leisure yachts. The Protective Coatings business sells coatings to industries in the offshore and onshore oil and gas industries, the power generation industry, the renewable energy industry, and infrastructure industries. Products include intumescent coatings, metallic finishes, high-temperature coatings, and anticorrosive protective coatings. Jotun Powder Coatings supplies coatings to manufacturers of appliances, furniture, building components, pipelines, and general industries. Jotun has 40 production facilities in 23 countries.

Notes: In March of 2023, Jotun opened a new factory in Ramadan City, Egypt's industrial zone, focused on innovative paints. With a production capacity exceeding 70 million liters per shift, Jotun Egypt has invested over $100 million in establishing and equipping this state-of-the-art facility.

In 2023, Jotun completed an expansion project for its intumescent R&D facility in Flixborough, UK.

In 2023, Jotun’s Decorative Paints segment launched a mobile version of Jotun Color Manager (“JCM GO”), which allows sales personnel to close sales and tint colors from any location or device. Jotun’s Protective Coatings segment launched Jotachar JF750 XT, an intumescent coating especially developed for assets constructed or commissioned in extreme environments. For existing oil and gas facilities, Jotun launched AssetKeeper, a service to help owners optimize maintenance, planning and decisions. Jotun’s Powder Coatings segment, launched two premium products for building components: The Lifeshine Collection, a bright metallic powder coating and UltiMatt, a super durable powder coating with an attractive matte finish. Jotun also introduced Jotun Primax Coating Solutions, the only powder coatings system that has been independently tested to meet ISO 12944 CX, a rating for coatings that can protect assets operating in aggressive environments.

Source: Annual Report, press releases

Image courtesy of Jotun.