2026 Global Top 10: No. 3, AkzoNobel
With operations in more than 150 countries, AkzoNobel is a global manufacturer of paints and coatings. In 2025, the company reported revenue of €10.16 billion, down 5% from €10.71 billion in 2024. Revenue by region was: Europe, Middle East and Africa, or EMEA, 48%; North Asia, 16%; North America, 13%; Latin America, 12%; and South Asia Pacific, 11%.
AkzoNobel operates two business units: Decorative Paints and Performance Coatings. In 2025, Decorative Paints generated approximately €4.09 billion in revenue, down from €4.30 billion in 2024, while Performance Coatings generated approximately €6.07 billion, down from €6.40 billion. Decorative Paints reported an adjusted EBITDA margin of 15.8%, while Performance Coatings reported an adjusted EBITDA margin of 13.9%.
3. AkzoNobel
2025 Coatings Sales: Approx. $11.48 billion USD (€10.158 billion)
Headquarters: Amsterdam
CEO/Chairman of the Board of Management: Greg Poux-Guillaume
In November 2025, AkzoNobel and Axalta Coating Systems entered into a definitive agreement to combine in an all-stock merger of equals. The transaction is expected to create a global coatings company with dual headquarters in Amsterdam and Philadelphia, AkzoNobel shareholders owning 55% of the combined company and Axalta shareholders owning 45%. The transaction is expected to close in late 2026 or early 2027, subject to customary approvals and conditions.
Notes: In January 2025, AkzoNobel announced a €22 million investment to transform its Montataire, France, site into a flagship decorative paints facility. The plan forms part of the company’s Industrial Excellence program and includes broader efforts to streamline commercial, support and distribution operations in France.
In February 2025, the company launched Sikkens Autowave Optima, a one-stop waterborne basecoat for vehicle repair designed to improve bodyshop productivity. AkzoNobel said the high-pigmentation system can achieve up to 50% faster process times, reduce energy costs and carbon emissions by up to 60%, and provide approximately 15% material savings.
In March 2025, AkzoNobel reported that more than half of its 15 production sites in China were progressing toward 100% renewable electricity. The company had installed more than 5,600 solar panels at sites in Shanghai, Guangzhou and Chengdu, while six sites had received government-certified Green Factory status.
In May 2025, AkzoNobel announced a partnership with BASF to incorporate biomass-balanced ingredients into decorative paints production across Europe, the Middle East and Africa. The collaboration is intended to reduce the carbon footprint of selected high-volume products by at least 5% without changing formulations or manufacturing processes.
In June 2025, AkzoNobel agreed to sell its shareholding in Akzo Nobel India Ltd. to the JSW Group. The transaction, based on an enterprise value of approximately €1.4 billion, includes the company’s liquid paints and coatings business in India, while AkzoNobel retains its India Powder Coatings business and International Research Center.
In July 2025, AkzoNobel opened a research and development center in Nilai, Malaysia, to support sustainable decorative paints innovation across Southeast Asia. The facility includes automated robotic testing systems and advanced analytical tools and will employ 35 R&D professionals.
In November 2025, International, AkzoNobel’s marine coatings brand, introduced updates to its Intertrac Vision forecasting tool to provide shipowners and operators with clearer coating-scheme cost, return-on-investment and payback data. Later that month, AkzoNobel and Axalta announced an all-stock merger of equals that would create a global coatings company with an enterprise value of approximately $25 billion.
In December 2025, AkzoNobel completed the sale of Akzo Nobel India Ltd. to the JSW Group. The company also announced a €50 million investment to upgrade its Waukegan, Illinois, aerospace coatings facility, adding machinery, automation and logistics capacity to support North American supply. International also expanded its marine coatings agreement with China’s Winning Shipping to support drydocking projects involving six vessels in 2026.
Source: Annual Report, company website, press releasesLooking for a reprint of this article?
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