BASF Receives Frost & Sullivan Award for Coating Resins
LUDWIGSHAFEN, Germany - BASF has received the 2013 Product Line Strategy Leadership Award from Frost & Sullivan based on a recent analysis of the European resins for protective coatings market. The award recognizes the extent to which the product line meets customer base demands and the overall impact it has in terms of customer value as well as increased market share.
BASF's current approach to product portfolio development is based on market trends. "The market continues to shift away from using high-solvent coatings, and BASF is leading this conversion by replacing alkyds with acrylic dispersions," said Frost & Sullivan Industry Analyst Roland Heinze. "The company also looks to replace other conventional technologies to the greatest extent possible with more sustainable ones in order to grow faster than the market."
The company's portfolio of coating raw materials translates to a variety of applications - not only protective coatings but also printing and packaging, furniture and flooring, automotive, and general industry.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development.