10. Jotun

Sandefjord, Norway


CEO: Morten Fon

2020 Coatings Sales: Approx. $2.54 billion

Jotun specializes in sales of decorative coatings, marine coatings, protective coatings and powder coatings. Organized into seven regions, the company operates in four business segments: Marine Coatings, Protective Coatings, Powder Coatings and Decorative Paints. The Marine Coatings segment accounted for 26% of sales in 2020. The Protective Coatings segment accounted for 26% of sales in 2020. The Powder Coatings segment accounted for 8% of sales in 2020, and the Decorative Paints segment accounted for 40% of sales in the same year. 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 Jotun Multicolor Centers. 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 38 production facilities in 23 countries.

Notes: Jotun invested approximately $164 million in 2020, which accounts for about 7% of sales. The largest investments were related to new production facilities in Vietnam and Egypt, factory upgrades in Norway and the Czech Republic, a new regional office and research and development (R&D) center in Dubai, and completion of the group's new headquarters and R&D center in Norway.

Source: 2020 Annual Report, press releases