10. Jotun

Sandefjord, Norway

CEO: Morten Fon

2021 Coatings Sales: Approx. $2.59 billion


Jotun specializes in sales of decorative coatings, marine coatings, protective coatings and powder coatings. The company reported sales for 2021 of NOK 22,809 million, an increase of 8% compared to sales for 2020. The company operates in four business segments: Marine Coatings, Protective Coatings, Powder Coatings and Decorative Paints. The Marine Coatings segment accounted for 24% of sales in 2021. The Protective Coatings segment accounted for 28% of sales in 2021. The Powder Coatings segment accounted for 9% of sales in 2021, and the Decorative Paints segment accounted for 39% of sales. 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, tank and cargo holds, 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 and onshore oil and gas industries, the power generation industry, the renewable energy industry, and infrastructure industries. Products include intumescent coatings, metallic finishes, high-temperature coatings and anticorrosive protective coatings. Jotun Powder Coatings supplies coatings to manufacturers of appliances, furniture, building components, pipelines and general industries. Jotun has 39 production facilities in 23 countries.
Notes:In May 2022, Jotun Group announced a partnership agreement with Med Investment Holding Spa in Algeria for the production of Jotun paint and coatings in Algeria through a joint venture with Technover P. The joint venture will produce Jotun decorative paints and protective coatings to international standards in a newly built factory in the district of Tizi-Ouzou, east of Algiers.
Source:2021 Annual Report, press releases