7. Axalta Coating Systems
President/CEO: Robert W. Bryant
2020 Coatings Sales: $3.7 billion
With more than 150 years of experience in the coatings industry, Axalta Coating Systems supplies transportation and performance coatings. With a global reach, the company reported 40% of 2020 sales in North America, 37% in EMEA, 14% in Asia-Pacific and 9% in Latin America. Axalta operates in two business segments: Performance Coatings and Transportation Coatings. In 2020, Performance Coatings accounted for $2,516 million in sales (67.3%). This segment includes refinish coatings and industrial end-market liquid and powder coatings. Brands include Cromax®, Standox®, Spies Hecker® and Syrox™. Axalta’s Transportation Coatings segment recorded sales of $1,221 million (32.7%). In terms of end markets, refinish coatings accounted for $1,449 million of net sales (38.8%), industrial coatings accounted for $1,06 million of sales, or 28.5%. The light vehicle end market saw $960.5 million in sales (25.7% of sales), and commercial vehicles accounted for $260.7 million in sales (7%). The refinish end market focuses on body shops, independent shops, multi-shop operators, light vehicle dealerships, and company-owned stores in EMEA and Central America. The focus of the industrial end market includes general industrial coatings, electrical insulation systems, architectural, transportation, oil and gas, coil, wood, and agricultural, construction and earthmoving (ACE). The light vehicle end market focuses on automotive light vehicle original equipment manufacturers and automotive plastics suppliers. The commercial vehicle end market includes heavy-duty trucks, buses, motorcycles, marine and aviation, trailers, recreational vehicles, and personal sport vehicles.
Notes: In March of this year, Axalta announced a definitive agreement to acquire Anhui Shengran Insulating Materials Co., Ltd., a leading Chinese producer of wire enamels used in a wide range of consumer electronics, electric vehicle and industrial applications. The transaction closed in April of 2021. Also in April, Axalta announced the rebranding of its Transportation Coatings business unit to Axalta Mobility Coatings. The redefined business will focus on supporting the accelerating demand for e-mobility and the evolving coatings needs of established and emerging light and commercial vehicle original equipment manufacturers (OEMs), fleet owners, and shared mobility providers.
Source: Annual Report, press releases