6. Axalta Coating Systems
President/CEO: Robert W. Bryant
2021 Coatings Sales: Approx. $4.4 billion
With more than 150 years of experience in the coatings industry, Axalta Coating Systems serves more than 100,000 customers in over 140 countries with transportation and performance coatings. In 2021, the company reported 39% of its sales were in North America, 37% in EMEA, 15% in Asia-Pacific and 9% in Latin America. Axalta operates in two business segments: Performance Coatings and Mobility Coatings. In 2021, Performance Coatings accounted for $3,096 million in sales (70.1% of overall sales). This segment includes refinish coatings, which recorded $1,776 million in sales, and industrial, which recorded $1,319 million in sales. Brands include Cromax®, Standox®, Spies Hecker® and Syrox™. Axalta’s Mobility Coatings segment recorded sales of $1,320 million (29.9% of overall sales). Within this segment, light vehicle coatings accounted for $1,013 million in sales, while commercial vehicle coatings accounted for $306.8 million in sales. In terms of end markets, refinish coatings accounted 40% of net sales in 2021, while industrial coatings accounted for 30% of sales. The light vehicle end market accounted for 23% of 2021 total sales, and commercial vehicles accounted for 7%.
Notes: In April 2021, Axalta acquired 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. In September 2021, Axalta acquired UK-based U-POL Holdings Limited (U-POL), a leading supplier of paint, protective coatings and accessories primarily for the automotive aftermarket. U-POL sells its products in over 100 countries and is widely known for its leading brands, including Raptor®, Dolphin® and Gold™, among others. Also in 2021, Frost & Sullivan named Axalta the 2021 Global Commercial Vehicle Coatings Company of the Year. Axalta Mobility also received recognition from General Motors as its 2021 Supplier of the Year in the paint category.
Source: Annual Report, press releases