It's that time of year again for Coatings World's Top Companies Report. In the pages that follow you will find our annual ranking of the leaders in the global coatings industry. Every year we list the leading manufacturers in the world, based on sales of paint, coatings, adhesives and sealants and offer a snapshot of key events that unfolded during the year such as acquisition activity, new product launches or management changes.
Profiling so many companies, common themes begin to emerge. While the rising cost of raw materials and the formulation of greener technology are major driving forces in today's industry among the largest coatings companies, globalization continues to be the major trend influencing the top paint, coatings, adhesives and sealants firms. As has been the case for the past several years, the Asia Pacific region is the hottest spot, particularly China, and is fueling much of the growth. However, we also notice that more coatings firms are becoming bullish on Eastern Europe, particularly Russia and the Middle East are also becoming more ripe for growth opportunities with an increase in capital expenditure in the region.
On the acquisition front it was an exciting year. Coatings headlines were dominated by AkzoNobel's takeover of ICI and PPG's acquisition of SigmaKalon. Last year ICI was ranked third in our report and SigmaKalon tenth. Akzo has a firm hold on the number one spot, while PPG jumped to third past Sherwin-Williams and is now neck and neck with number two Henkel.
These blockbuster deals, along with many other, smaller transactions further contributed to the consolidation of the industy, a trend that will continue as we move forward. While we can predict that the tough business climate coatings companies are operating in today with sky-rocketing oil prices will only get tougher, who knows what companies will be here next year and which will not.
I would also like to note that you may notice the design of this year's report has changed as has the number of companies we are reporting on in print. We hope this new design offers you a more concise and focused look at the major coatings companies across the globe. But please tune in to our online edition where you will find information on many other companies.
2008 Top Companies
1. AkzoNobel (The Netherlands) - $13.4 billion
2. Henkel (Germany) - $10.3 billion
3. PPG (USA) - $10.2 billion
4. Sherwin-Williams (USA) - $6.5 billion
5. DuPont (USA) - $4.3 billion
6. BASF (Germany) - $3.6 billion
7. RPM (USA) - $3.3 billion
8. Valspar (USA) - $3 billion
9. 3M (USA) - $2.5 billion
10. Kansai Paint (Japan) - $2.18 billion
11. Nippon Paint (Japan) - $2.15 billion
12. Sika (Switzerland) - $2.1 billion
13. Masco (USA) - $1.53 billion
14. Jotun (Norway) - $1.5 billion
15. H.B. Fuller (USA) - $1.4 billion
16. DAW (Germany) - $1.34 billion
17. Comex (Mexico) - $1.3 billion
18. Hempel (Denmark) - $1.27 billion
19. Asian Paints (India) - $1.2 billion
20. Beckers (Sweden) - $1.15 billion