3. AkzoNobel



CEO/Chairman of the Board of Management: Thierry Vanlancker

2021 Coatings Sales: Approx. $11.37 billion (€9.587 billion)


With operations in more than 150 countries, AkzoNobel is a leader in the manufacture of paints and coatings. In 2021, the company recorded an increase in net sales of 12%, up from €8.53 billion in 2020 to €9.59 billion in 2021. The company reported 2021 revenue in each region of the world as the following: Europe, Middle East and Africa (EMEA) — 50%; North Asia — 18%; South Asia Pacific — 12%; North America — 12%; and South America — 8%. Volumes were 7% higher in 2021 compared to 2020, mainly due to the impact of the recovery from COVID-19 on end-market demand.

AkzoNobel has two business units: Decorative Paints and Performance Coatings. In 2021, revenue from third parties in the Decorative Paints segment was €4.957 billion compared to €3.558 billion in 2020, up 12%. Revenue from third parties in the Performance Coatings segment was €5.603 billion in 2021, compared to €4.957 billion in 2020, up 13%.

Notes: In March 2021, AkzoNobel completed the acquisition of Titan Paints in Spain, one of the best-known brands in the country. The transaction included three production facilities, and seven logistics and service centers for decorative paints. In April 2022, the company completed its acquisition of Colombia-based paints and coatings company Grupo Orbis, expanding the company’s presence in South and Central America. This June, the company announced an agreement with Kansai Paint to acquire Kansai’s paint and coatings activities in Africa, with completion of the deal expected sometime in 2023.
Source: AkzoNobel 2021 Annual Report, press releases