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Green Coatings Manufacturers are Consistently Focusing on Expanding their Production Capacities
The global green coatings market is highly diversified with most companies offering an array of coatings manufactured with different technologies with a wide range of usage in different applications. Waterborne coatings are the most commercialized and are abundantly available in the market. The companies engaged in the production of these green coatings are AkzoNobel N.V. (The Netherlands), BASF S.E. (Germany), Hempel A/S (Denmark), Nippon Paint (Japan), PPG Industries Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), and others. Today, the top 10 players in this industry account for more than half of total coatings sales in the world. The water-based coatings are well-established in the market due to strong growth of the building & construction industries, and also due to their versatile properties and low price, they have gained an advantage over high-performance segment coatings.
The major global companies operating in the green coatings market are U.S. based PPG, Sherwin-Williams, Axalta Coatings Systems (acquisition of DuPont Performance Coatings), Valspar, and others. The companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serve customers more effectively in different regions. PPG Industries is investing $60 million to build a factory for industrial and performance coatings in Russia. Even though the company is observing many hurdles and challenges in this region, the company also observes the business opportunities which will help them to grow in this segment in this region.
Mergers and acquisitions are the second-largest development strategy adopted by the companies. By doing this, the companies are focusing to expand quickly and benefit from the growing demands of the coatings market. To expand the coatings business, The Valspar Corporation completed the previously announced acquisition of Inver Holding (Bologna, Italy), a leading industrial coatings manufacturer in Europe. This acquisition paves the way into the new sustainable liquid and powder coatings and resin products that are used in a variety of industrial applications. PPG Industries Inc. is also becoming more aggressive in terms of realizing acquisition and merger opportunities. The company recently invested and acquired Irvine, California-based Deft aerospace coatings, and also completed the acquisition of AzkoNobel's North American architectural coatings business. With this acquisition strategy, the major coatings companies are expanding their reach in all the regional distribution channels, including home centers, independent paint dealers, and company-owned paint stores.
Green Coatings Market by Types (Waterborne, Powder, High-Solids, Radiation Cure) & by Applications (Architectural Coatings, Automotive Coatings, Industrial Coatings, High Performance Coatings, Wood Coatings, Packaging Coatings, & Product Finishes) - Global Trends & Forecast to 2018
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