Akzo Nobel N.V. Will Invest in High-Performance Wind Turbine Blade Coating Project in China

Akzo Nobel International Paint (Suzhou) Co., Ltd. plans to invest in and implement a technological transformation project to add 8,000 tons of high-performance wind turbine blade coatings per year in China. It is reported that AkzoNobel's investment in expanding wind power coatings production capacity is mainly optimistic about the development prospects of China's wind power market.

The market size of wind power coatings mainly depends on the newly installed capacity of downstream wind power equipment and the repair inventory of wind power equipment. China's total installed wind power capacity has grown rapidly, and its proportion of global wind power continues to increase. China has now become the country with the largest installed wind power capacity in the world. With the further improvement of the economics of wind power and the gradual resolution of the problem of wind power grid connection and consumption, coupled with the strong support of government policies, China's wind power industry has maintained a steady growth trend.

According to GWEC data, from 2010 to 2022, China's total installed wind power capacity increased from 44.73GW to 395.6GW, an increase of 784.42%, with an annual growth rate of more than 20%. Wind power installed capacity has ranked first in the world for 13 consecutive years. According to the 2030 Carbon Peak Action Plan previously issued by the State Council of China, the total installed capacity of wind power and solar power will reach more than 1.2 billion kilowatts by 2030. This means that there is still huge growth potential in the demand for wind power coatings in the future.

Akzo Nobel International Paint (Suzhou) Co., Ltd. was invested and established by AkzoNobel in 2006. It is one of the world's largest production bases in the field of AkzoNobel protective coatings. It is mainly engaged in the production and sales of industrial protective coatings. Its main products are high-build cabin paint, Primer coatings, topcoat coatings, zinc-rich paint coatings, fire retardant coatings, silicone topcoat coatings, tank lining coatings and thinners, etc. The products are used in ships, offshore structures, yachts, wind power, aerospace, etc. The company has achieved sales revenue of approximately 1.1 billion yuan in 2022.

It is reported that Akzo Nobel International Paint (Suzhou) Co., Ltd. plans to invest 77.28 million yuan to implement an annual increase of 18,250 tons of high-performance coatings and safety and environmental protection technology transformation projects. The Suzhou company's current project has an annual output of 27,750 tons of coatings. After the substitution of solvent-based raw and auxiliary materials in the formula has improved product quality, the product proportion has increased to 1.6, and the converted weight is 48,000 tons, an increase of 18,250 tons per year compared with before the technical transformation. It is reported that after the technical transformation, the solid content of the product has been increased and the amount of solvent used has been reduced, thereby improving the performance of the product and further improving the adsorption property during use.

AkzoNobel's relationship with China can be traced back to 1898. Its current business involves architectural coatings, wood coatings, powder coatings, automotive coatings, ship coatings, protective coatings, packaging coatings, etc. There are 15 production bases in Tianjin, Changzhou, Suzhou, Shanghai, Guangzhou, Langfang, Chengdu, and other places. Among them, the production and sales volume of architectural coatings, powder coatings, packaging coatings and other segmented businesses rank at the forefront of China's coatings market. In 2022, sales revenue was approximately 10.2956 billion yuan.