6. Axalta Coating Systems

Philadelphia, PA

President/CEO: Chris Villavarayan

www.axalta.com

2024 Coatings Sales: Approx. $5.276 billion

With over 150 years of coatings expertise, Axalta Coating Systems serves more than 100,000 customers across 140+ countries. In 2024, the company reported sales of approximately $5.3 billion, with 38% from North America, 34% from EMEA, 16% from Asia-Pacific and 12% from Latin America.

Axalta operates in two business segments: Performance Coatings and Mobility Coatings. Performance Coatings accounted for $3,455 million (65.5% of total sales), including $2,164 million from refinish coatings (41%) and $1,291 million from industrial coatings (24.5%). Mobility Coatings generated $1,821 million (34.5%), with $1,405 million from light vehicle coatings (26.6%) and $416 million from commercial vehicle coatings (7.9%).

Notes: 

In March 2024, Robert M. McLaughlin announced his retirement from Axalta’s Board of Directors, concluding a decade of service as Audit Committee Chair. Jan Bertsch was named his successor, effective June 2024.

In April 2024, Axalta received three Edison Awards: silver for its Irus Mix automated paint dispenser, silver for Voltatex® 7345 A ECO wire enamel, and bronze for its low-carbon coating system with Hyperdur® Primer and Chromadyne® Colorcoat.

In May 2024, Axalta partnered with Solera to integrate its refinish paint systems into Solera’s Sustainable Estimatics platform, enabling customers to estimate CO₂ emissions per repair and launched Alesta® BioCore™, the industry's first ISCC Plus-certified biobased powder coatings, offering up to 25% CO₂ emissions reduction compared to fossil-based alternatives.

In July 2024, Axalta appointed Chris Evans as vice president of Global Strategy and Colleen Lubic as vice president of Investor Relations, and completed its acquisition of The CoverFlexx Group from Transtar Holding Company, enhancing its refinish coatings portfolio with brands like Transtar®, Pro-Form™ and Aftermkt Armor™. Also in July, the company partnered with CESVIMAP to offer refinish customers access to the Move2Green sustainability program, providing tools to assess and improve body shop environmental performance.

In August 2024, Axalta launched Cerulean™, a new line of low-VOC waterborne industrial wood coatings that deliver a solvent-like finish for cabinetry and furniture applications.

In September 2024, Axalta launched Axalta Nimbus™, a cloud-based platform that integrates color retrieval, inventory management, and training resources to enhance productivity for refinish customers and the Irus Scan spectrophotometer to improve color matching accuracy and efficiency for refinish customers. Also in September, Joanne Hardy, who retired from Axalta Coating Systems in late 2023, received the PCI Lifetime Achievement Award for her significant contributions to coatings innovation and mentorship over her career.

In October 2024, Axalta opened its new global headquarters at the Philadelphia Navy Yard, integrating it with the Global Innovation Center to enhance collaboration and streamline operations under the ONE Axalta initiative.

In November 2024, Axalta won an R&D 100 Award for its primerless coating system that reduces material use, energy and cycle time.

Source: Annual Report, press releases