Paint and Coating Market Reports

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Evonik’s group sales fell 23% in the third-quarter to €3.77 billion. Sales volumes declined by 5%, and prices by 6%.

In the third-quarter of 2023, Westlake achieved quarterly net sales of $3.1 billion, quarterly net income of $285 million and quarterly EBITDA (earnings before interest expense, income taxes, depreciation and amortization) of $682 million.

The company’s sales amounted to €15.7 billion, down by €6.2 billion compared with the prior-year period. The decline was reportedly due to considerably lower prices, primarily in the materials, chemicals, and surface technologies segments.

For 2023, AmCoat’s Floor Shield brand has added 14 new dealers, helping the polyaspartic floor coating company post positive results over 2022 – a 33% increase.

According to the report, the company’s revenue across currencies was up 5% on pricing, despite flat volumes, while reported revenue was 4% down on unfavorable exchange rates.

According to the CEO, the domestic coatings business, decorative and industrial combined, registered a subdued 1.1% revenue growth in the quarter.

Reportedly, consolidated net sales increased 1.1% in the quarter to $6.12 billion. All comparisons are to the third-quarter of the prior year, unless otherwise noted. 

Tim Knavish, PPG Chairman and Chief Executive Officer, commented on the quarter, saying, “ We achieved record third-quarter net sales and adjusted earnings per share aided by the breadth and resiliency of our business portfolio."

According to the report, the market is estimated to be valued at $160 million in 2023 and is expected to grow at a CAGR of 5.1%.

Fiscal 2024 first-quarter adjusted EBIT was reportedly an all-time record and was in addition to strong growth in the prior-year period when adjusted EBIT increased 33.1%.