Key business developments
Marine and Protective Coatings
- Headwinds in the upstream oil and gas market depressed demand and impacted volume, while the marine sector continued to experience tough market conditions, mainly in new build
- Significant growth achieved in North America, despite extreme weather challenges
- Completed the acquisition of Flexcrete Technologies Ltd., a UK-based manufacturer of industry-leading technical mortars and high performance coatings for concrete
- Partnered with The Ocean Cleanup to provide advanced, biocide-free coatings for all their devices and equipment for the next five years
- Enhanced our leading position in the wind energy industry by successfully integrating the RELEST wind blade coatings technology and teams
- Announced a €13 million investment in Felling, UK, to establish an RD&I campus for protective coatings research, testing and simulation
- Achieved significant sales of Chartek 2218, our latest epoxy passive fire protection system
- Suite of digital tools introduced to help improve customer engagement and service
Some of our customers
- APM Maersk
- Bechtel
- Brunswick
- ExxonMobil
- GE
- Hapag Lloyd
- Hyundai Heavy
- Industries
- Rio Tinto
- Sandvik
- Shell
- Siemens
Top raw materials
- Epoxy resins and
- organic solvents
- Epoxies
- Curing agents
- Titanium dioxide
Key cost drivers
- Oil feedstock chain
- Metals, base chemical prices
Key brands
Revenue
in € millions
Geo-mix revenue by destination
in %
Automotive and Specialty Coatings
- Overall performance was strong, despite increasing raw material prices and a highly competitive environment
- Acquired Disa Technology, a French manufacturer of innovative technical marks and decorative film technologies, to boost our portfolio of liquid coatings and films
- Opened a hi-tech Automotive Training Center in Dubai, offering wet paint and powder services across multiple segments
- New Aerospace Color Center opened in Dongguan, China, to meet growing demand
- Successfully integrated part of BASF’s Industrial Coatings activities into our Commercial Vehicle organization
- Deployed the 10,000th Automatchic Vision device for perfect color matching
- Rolled out new super yacht coating range and high performance antifouling yacht solutions
- Launched new range of additives and resins used in anti-fingerprint and easy-clean coatings for consumer electronics and automotive interiors
- Supplied the victorious Eindhoven University of Technology team in the World Solar Challenge with coatings and technical application expertise
Some of our customers
- Airbus
- Allianz
- BBG
- Boeing
- Dell
- General Motors
- Gold Coast Marine
- HP
- KMC/HMC
- Leonardo
- Plastic Omnium
- Samsung
Top raw materials
- Acrylic resins
- Effect pigments
- Ester solvents
- Isocyanates
Key cost drivers
- Metals, base chemical prices
- Oil, energy prices
Key brands
Revenue
in € millions
Geo-mix revenue by destination
in %
Industrial and Powder Coatings
- Strong volume growth in Powder Coatings, while Industrial Coatings also achieved volume and revenue growth
- Acquired the business of V.Powdertech, the leading Thai manufacturer of powder coatings
- Three new Powder Coatings sites under construction in India and China (Changzhou). The Changzhou plant is the biggest of its kind in the world
- Opened a €31 million coatings plant in Chonburi, Thailand (serving several businesses, including Industrial Coatings), and a new powder coatings factory in Chengdu, China
- A new generation of BPANI (BPA non-intent) coatings for beer and beverage packaging was launched, providing customers with more sustainable and innovative solutions
- Wood Coatings continued to roll out its NDuraSilk range of high performance kitchen cabinet coatings, which offer increased efficiency in application
- Launched new Futura collection for powder coatings, an extensive range of highly durable and sustainable colors, finishes and textures developed with trend experts PeclersParis
- Integrating the relevant parts of the acquired BASF Industrial Coatings business into our activities
Some of our customers
- Arcelor Mittal
- Ardagh
- Ball
- Bluescope Steel
- Bosch
- Caterpillar
- Crown
- IKEA
- Lacquer Craft Furniture
- McDonalds
- Masterbrand Cabinets Inc.
- Nokia
- Philips
- Scania
- Siemens
- Tata Steel
- Whirlpool
Top raw materials
- Polyester and epoxy resins
- Glycol, ether and aromatic solvents
- Titanium dioxide
- Latex resins
- Nitrocellulose
- Methanol, urea
- Butyl acetate, acetone and xylene solvents
Key cost drivers
- Basic feedstock prices
- Oil and natural gas prices
- Propylene and VAM
- Agrochemical feedstocks (urea)
- Cotton
Key brands
Revenue
in € millions
Geo-mix revenue by destination
in %