AkzoNobel Retains Top 5 Position in Industrial Coatings, Market Share Increases by 4.18%, China's Coatings Market is Set to Shake Up Again!

Recently, the authoritative financial media of China's coating industry "Coating industry" officially announced the "2024 Top 25 list of China's industrial coating brands", which comprehensively brings together the top brands in the field of domestic industrial coatings. It is worth noting that AkzoNobel once again sits firmly among the top five industrial coatings in the country, ranking fourth this year, the same as last year. Since the list was first published in 2019, Akzonobel has been ranked among the top five industrial coatings in China for six consecutive years.

This list is sorted according to the sales revenue of each brand's industrial coatings business in 2023, and the threshold for entry is set at XX billion yuan. The list data show that the total annual sales revenue of the listed brands is as high as 68.514.3 billion yuan, accounting for 23.73% of the national industrial coatings market share, an increase of 4.18 percentage points compared with previous years. In particular, the total sales revenue of the top 10 enterprises on the list reached 52.296 billion yuan, and their market share reached 18.11%, also achieving an increase of 4.18 percentage points.

Akzonobel, an international giant with a long history, has been leading the development of the global decorative coatings industry since its founding in 1792. As the world's largest producer of functional coatings, its business scope covers decorative coatings, high-performance coatings and specialty chemicals. The products are widely used in construction, automobile, wood, shipbuilding, 3C, wind power, aviation, packaging and coil and other industries, with business coverage in more than 100 countries and regions around the world. By the end of 2023, the group had 35,200 employees worldwide and annual sales exceeded 10.668 billion euros ($11.569 billion).

Akzonobel has a strong connection with the Chinese market dating back to 1898. Its presence in China covers architectural coatings, wood coatings, powder coatings, automotive coatings, Marine coatings, protective coatings and packaging coatings, and has established 15 production bases in Shanghai, Guangzhou, Langfang, Chengdu, Tianjin, Changzhou and Suzhou. At the same time set up a number of Asia-Pacific R&D centers and laboratories. In the fields of architectural coatings, powder coatings, packaging coatings, Marine coatings and wind power coatings, Akzonobel's production and sales are among the industry leaders. According to the authoritative list released by "Paint", Akzonobel ranked third on the list of China's Top 100 coatings enterprises in 2024 with a sales revenue of 10.638 billion yuan.

In the face of the downturn in domestic coatings market demand, Akzonobel has shown strong resilience and achieved bucking growth through intensive investment and expansion strategies. For example, Akzonobel Protective Coatings (Suzhou) Co., Ltd. invested 36.5 million yuan to increase the production capacity of 7,000 tons of solvent-free high-performance fire-resistant coatings and 23,000 tons of tank liner coatings, and to improve the quality of the original 26,542 tons of high-performance coatings production line. At the same time, the company also plans to invest 25 million yuan to promote the technical transformation project of adding 8,000 tons of high-performance wind turbine blade coatings annually, and invest 15 million yuan to expand the capacity of solvent-based packaging coatings. In addition, Akzonobel Functional Coatings (Changzhou) Co., Ltd. also announced an investment in a new production line with an annual output of 76,000 tons of high-performance coatings, as well as the construction of a research and development center and storage facilities, which has been registered by the government.

While expanding production capacity, Akzonobel also attaches great importance to research and innovation. With the growing market demand for new coatings, Akzonobel Functional Coatings (Shanghai) Co., Ltd. plans to upgrade and expand the existing research and development center with a total investment of 20 million yuan. The project aims to enhance the research and development capabilities of decorative coatings and automotive liquid coatings, reduce the research and development experiments of Marine coatings, and improve the vessel cleaning efficiency and development batches of resin synthesis experiments. After the completion of the project, the R & D center will add 2,972 batches of various coating R & D experiments/year, and the total R & D batches will reach 11,300 batches/year.

"China's Top 25 Industrial Coating brands List" is independently compiled and released by "Coating Industry", as an authoritative ranking in the field of China's coating industry, the list has been released for six consecutive years, and has won wide praise and high recognition in the industry with its independence, impartiality and objectivity. The list is not only a vane for the development of China's industrial coatings industry, but also provides market information and trend analysis with great reference value.