The 2024 Global Top 10: No. 10 Jotun
Image courtesy of Jotun.
No. 10 Jotun
Sandefjord, Norway
47.33.45.70.00
CEO: Morten Fon
2023 Coatings Sales: Approx. $3.13 billion USD (NOK 31,861 million)
Jotun specializes in sales of decorative, marine, protective, and powder coatings. The company reported sales for 2023 of NOK 31,861 million, an increase of 14% compared to sales for 2022. The sales growth was driven by increased volume and prices, as well as positive mix effects. The company operates in four business segments: Marine Coatings, Protective Coatings, Powder Coatings, and Decorative Paints. The Marine Coatings segment accounted for 27% of sales in 2023. The Protective Coatings segment accounted for 29% of sales in 2023. The Powder Coatings segment accounted for 7% of sales in 2023, and the Decorative Paints segment accounted for 37% 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 40 production facilities in 23 countries.
Notes: In March of 2023, Jotun opened a new factory in Ramadan City, Egypt's industrial zone, focused on innovative paints. With a production capacity exceeding 70 million liters per shift, Jotun Egypt has invested over $100 million in establishing and equipping this state-of-the-art facility.
In 2023, Jotun completed an expansion project for its intumescent R&D facility in Flixborough, UK.
In 2023, Jotun’s Decorative Paints segment launched a mobile version of Jotun Color Manager (“JCM GO”), which allows sales personnel to close sales and tint colors from any location or device. Jotun’s Protective Coatings segment launched Jotachar JF750 XT, an intumescent coating especially developed for assets constructed or commissioned in extreme environments. For existing oil and gas facilities, Jotun launched AssetKeeper, a service to help owners optimize maintenance, planning and decisions. Jotun’s Powder Coatings segment, launched two premium products for building components: The Lifeshine Collection, a bright metallic powder coating and UltiMatt, a super durable powder coating with an attractive matte finish. Jotun also introduced Jotun Primax Coating Solutions, the only powder coatings system that has been independently tested to meet ISO 12944 CX, a rating for coatings that can protect assets operating in aggressive environments.
Source: Annual Report, press releases
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