10. Jotun

Sandefjord, Norway


CEO: Morten Fon

Coatings Sales: Approx. $2.23 billion

Jotun is a leading paint, coatings and powder coatings manufacturer. The company operates in two business segments: Decorative Paints and Performance Coatings. The Decorative Paints segment accounted for 38% of sales in 2019. The Performance Coatings segment includes the following business areas: Marine Coatings, accounting for 26% of sales in 2019; Protective Coatings, accounting for 27% of sales in 2019; and Powder Coatings, accounting for 9% of sales in 2019. 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 about 8,500 dealers. A leader in marine coatings for the new-build, dry-dock 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, energy, infrastructure and hydrocarbon processing industries. Jotun Powder Coatings is a leading supplier to manufacturers of appliances, furniture, building components, pipelines and general industries. Jotun has 39 production facilities in 23 countries.

Source: 2019 Annual Report, press releases

Notes: In June 2019, Jotun signed a memorandum of understanding with Korean Hyundai Heavy Industries, one of the world’s largest shipyards, for a new type of marine paint that reduces solvent emissions by up to 90%.

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