Kerry Pianoforte, Editor02.26.25
This year’s forum includes CEOs from leading coatings companies from the U.S., Europe and Asia Pacific. The participants are Greg Poux-Guillaume, CEO, AkzoNobel; Uta Holzenkamp, President, BASF’s Coatings Division; Dan Calkins, CEO, Benjamin Moore; Abhijit Roy, CEO, Berger Paints; Michael Hansen, CEO, Hempel; Steve Crossman, COO, HMG Paints; Julien Molina, CEO, Mäder Group; Claudio Rodriguez, CEO, Sinteplast and Armodios Yannidis, CEO, Vitex.
CW: How did the market for paints and coatings fare overall in 2024?
AkzoNobel: It was a year of solid organic growth for AkzoNobel as we grew profitability in mixed market conditions.
From a business perspective, 2024 presented a varied landscape for Decorative Paints, with performance differing across regions. EMEA demonstrated resilience, maintaining performance in flat market conditions, while Latin America delivered strong growth, led by Brazil. South East Asia achieved the highest volume growth across regions, driven by robust demand in India and Indonesia. In contrast, China faced significant market weakness, which impacted our overall performance in Asia.
Performance Coatings delivered a solid performance. Despite varying demand trends in sectors such as automotive and industrial, the business achieved growth. Robust new-build order books drove further recovery in Marine and Protective Coatings, while Powder Coatings maintained its positive momentum in soft markets, with weak automotive demand in the second half of the year. Industrial Coatings started the year strong, particularly in Coil and Packaging, although industrial demand softened later in the year. Aerospace was resilient and overcame OEM supply chain challenges. Geographically, China delivered strong performance across most Coatings businesses – in contrast to what we saw in Decorative Paints.
BASF: Global vehicle production in the automotive industry decreased by 2% in 2024. Despite mixed market conditions globally and ongoing economic challenges, BASF Coatings achieved solid results and performed at generally the same level as the previous year. We largely compensated for the declining volume in the automotive industry through increased sales in the surface technology sector. Staying close to our customers and focusing on what they value – along with a more global management of our operations – are key success factors.
Benjamin Moore: Overall, in 2024, there were several economic and industry factors impacting the home improvement and architectural coatings categories. Mortgage rates were in flux throughout the year, creating choppy demand and a weaker housing market. Unprecedented weather has also affected select markets, while inflation and affordability remain top-of-mind for consumers. Generally speaking, the industry fared better in comparison to 2023, and we anticipate growth in the year ahead across segments, and particularly in residential repaint.
Berger Paints: 2024 has been an eventful year for the industry, marked by some demand headwinds with many industry players not faring as well as in earlier years. However, Berger Paints will deliver high single-digit volume growth and muted value growth coming on the back of a 5% price decrease taken last year in decorative paints that constitutes close to 80% of our business. The industrial and protective coatings businesses did better clocking healthy volume and value sales growth. The industry is also seeing increased competition, with several new entrants over the past 12-24 months, leading to a more dynamic and competitive landscape. We anticipate a period of market adjustment and realignment as a result.
Hempel: 2024 was a year where we saw global macroeconomic instability impacting the paints and coatings market. Across the different industries that Hempel works in, a variety of factors impacted business, including subdued construction activity, low consumer confidence, geopolitical tensions, and market contraction in the renewables sector in EMEA. Despite these challenges, Hempel continued to be guided by its Double Impact growth strategy to become an industry-winning enterprise.
HMG Paints: In 2024, HMG experienced a positive trajectory, with increased demand across various sectors and establishment of new partnerships. We supported the growth by launching numerous innovative products, and further expanded our water-based and specialist product portfolios.
Mäder: In 2024, the economic environment remained challenging. In the industrial markets in which we operate, we observed project postponements and declines in activity, which had an impact on some of our businesses. Moreover, the competitive dynamics of the industrial paint market are undergoing significant transformation. While market consolidation is becoming increasingly evident, we perceive this evolution as an opportunity rather than a risk.
In this context, we upheld our business development strategy, strengthening prospecting efforts and expanding internationally, mitigating the economic downturn’s impact.
The continued deployment of our Ë-Volve strategic plan delivered tangible progress, reinforcing our CSR and decarbonization commitments. Advancing in impact measurement and sustainable innovation, we were honored with the EcoVadis Gold certification, recognizing our dedication to responsible practices. A customer satisfaction survey further highlighted key strengths such as our commercial and technical support, strong client relationships, high service standards, and product excellence, reinforcing our commitment to delivering superior value.
Sinteplast: 2024 was a challenging year in Argentina as we faced several political transformations due to the change in presidency. We went through two phases. Firstly, adaptation. As many economic adjustments were made, we had to readjust some of our strategies; this was not an easy task and we noticed a decrease of our product sales as a result. Nevertheless, we stayed loyal to our roots, we worked hard and the second phase of 2024 turned into opportunity for growth. At the moment, we are anticipating a significant recovery in the following months, both in our sales and overall market activity.
Vitex: Consumers’ demand for architectural paint in Southeast Europe was slower than in previous years due to inflation, higher cost of living and reduced purchasing power of the average household. However, the strong economy and high rate of investments in our main market, Greece, was a driver for projects business and Vitex’s ETICS products. Moreover, we performed well with our exports business resulting in an overall sales growth of 18% and a slight improvement in our profitability rate.
CW: Do you anticipate a negative impact regarding proposed tariffs?
AkzoNobel: The paints industry is often a local one for local business. Many of the products we produce are sold in the same country or region. We closely monitor the current situation to assess the impact for ourselves and our customers. Tariffs do generate additional costs, they force us to modify our supply chains and they make our businesses less efficient. That ends up reflected in our pricing.
BASF: Local production is essential to BASF’s strategy worldwide. In the United States, the vast majority of our sales come from products manufactured in the country. This focus on local production for the local market underscores our commitment to the U.S. economy and workforce and ensures that we meet customer needs with locally
produced goods.
As a global automotive supplier, we continue to carefully monitor for further developments in U.S. trade policy. While it is too soon to determine exactly how any new tariffs will impact the automotive supply chain and the coatings industry, we continue to evaluate ways to mitigate our exposure.
Benjamin Moore: It is too early to tell but we will continue to monitor the circumstances and evaluate the implications for our business and customers accordingly.
Berger Paints: The U.S. is not an export market for Berger Paints, and the proposed trade tariffs do not directly affect us.
Hempel: Trade policy developments always have the potential to impact our business, particularly working with industries such as energy and infrastructure. While proposed tariffs could create cost and supply chain challenges, we have built a resilient business model that enables us to adapt swiftly. We continue to work closely with our suppliers, customers and industry partners to ensure that any impact is mitigated while maintaining the high performance and sustainability of our products.
HMG Paints: As a UK-based manufacturer and having dealt with the challenges of Brexit and more recently, HMG Paints is always mindful of the potential implications of proposed tariffs on raw materials and finished goods but our focus is always on being flexible and proactive to limit any potential impact. Having a diverse portfolio of products across a number of sectors means we’re not overly reliant on certain raw materials which will be impacted by tariffs, which helps reduce our exposure.
Additionally, our purchasing team proactively manages our supply chain and explores alternative sourcing strategies, to mitigate any adverse effects, ensuring that our customers continue to receive high-quality products without significant cost increases.
Mäder: From both geopolitical and economic perspectives, the global landscape is expected to remain uncertain in 2025. This situation forces us to remain cautious about the potential impacts of raw material costs. Anti-dumping actions and complex situations in certain areas of the globe suggest, at best, stability and, at worst, a further increase in raw materials.
Nevertheless, we do not expect to return to levels as high as those we experienced in the post-COVID period. But we anticipate notable increases in certain product families,
particularly epoxies. Furthermore, we are closely monitoring the development of other costs such as those of transportation and energy, which may have had, and for some, still have impacts on activities.
Sinteplast: Due to globalization, it is inevitable to be affected by the tariffs around the world. Although raw materials could be affected by tariffs and production surplus, we can’t predict the exact impacts that these may have on our business. We remain optimistic and continue working to navigate through any challenges. As an Argentine company with 66 years of experience, we are accustomed to economic changes and have always overcome every obstacle.
Vitex: Tariffs on TiO2 are a major concern and we monitor the situation closely. Although the rules of the game have changed, we do not see significant impact because of lack of demand in Europe. However, if demand recovers, we believe that EU-based paint producers will have a significant disadvantage over their non-EU peers, which will be especially challenging for the ones like Vitex that operate at its borders. We remain confident with our purchasing strategy and the fact that we relied on our European TiO2 suppliers long before the antidumping measures were implemented, while the cultural proximity and established trust we have with them are valuable.
CW: What areas of the paint and coatings market represent the most growth opportunities for your company?
AkzoNobel: Looking ahead, we’re not planning for a significant market rebound in 2025. Our flat to low single-digit growth will be driven by Marine Coatings, Powder Coatings and emerging Deco markets (Latin America and Asia).
BASF: As a multi-solution partner, we offer innovative and ecologically viable solutions for the automotive industry, including original equipment manufacturers (OEMs) and the refinish market, as well as surface treatment solutions for a variety of industries. We see organic growth potential through our existing customer network, share gains and through continued market consolidation. As the global auto industry continues to evolve and shift, we are well-prepared to leverage our diverse portfolio with eco-efficient and tailor-made products and solutions for the industry.
Benjamin Moore: Looking ahead, we anticipate that both DIYers and professionals alike will take on more projects, as new home construction ramps up this year and potential sales of existing homes, repairs and improvements will need to be made.
Berger Paints: Berger Paints operates across segments with industry leadership in protective coatings and general industrial. We are seeing excellent growth potential in both segments led by the rapid ramp-up in infrastructure that the country is witnessing. With many industries heeding the Make in India call of the government and investing in setting up factories, our general industrial business is also expected to benefit in the coming days.
Construction chemicals and waterproofing will remain one of our key growth drivers as it has in the last few years. We have invested in growing our product range, improving distribution, and deepened engagement with influencers and applicators, steadily improving our market position. Berger probably has one of the widest product ranges in construction chemicals and waterproofing on offer in the Indian market, supported with both ATL and BTL activities. The rapid urbanization of India has provided us the opportunity to power our growth in this segment.
Wood coatings has emerged as a promising segment, presenting further growth potential for the company. We have a full-spectrum product offering and have been working extensively on interior designers, specialist applicators and OEMs to capture all available opportunities.
Hempel: Our focus at Hempel will continue to build segment leadership positions in selected geographies within marine, decorative, infrastructure and energy. Future success in the paint and coatings industry will be driven by groundbreaking technologies and innovation. To move us further along this path, Hempel established a new technology function in 2024 that comprises research & development, procurement and sustainability.
HMG Paints: A trend carrying through from previous years is that rather than one or two market opportunities, we’ve seen growth opportunities surrounding water-based technologies in nearly all of the markets in which we operate. As consumers and industries alike become more sustainability-focused, driven by upcoming government targets on environmental impacts, water-based and sustainable coatings technology represent a key area for the future of our business. Our research and development team has already initiated numerous collaborative projects with both raw material suppliers and customers to develop the next generation of coatings across our markets that will meet environmental and green targets without compromising on performance.
Mäder: Three years ago, we clearly identified the strategic segments for our activities. Markets such as mobility and energy are clearly strategic segments for the Mäder Group. These segments, in which we also have significant market shares that underline our clear positioning, are in line with our ambitions in terms of CSR approach
and decarbonization. In parallel with these historical activities, we are continuing to accelerate our actions in segments such as lifestyle, in line with our DNA.
Sinteplast: We have always focused in producing products that meet consumers’ needs. However, we are currently expanding our focus to include sustainability. For instance, we have recently launched Recuplast atérmico, which is the first athermic, reflecting and waterproofing membrane in Argentina. It not only reduces energy consumption by lowering home temperature by up to 10°C, but it also comes with a 15-year warranty.
Vitex: High volume growth will continue to come from our ETICS segment. It may not be a typical coatings business, but we see more and more architectural paint producers moving into this adjacent market. Vitex has invested heavily in the last decade, and we already play a leading role as a supplier to our main market. Our aim is to grow geographically also. We have recently signed a significant distribution agreement in the Middle East, and we are expanding our export footprint.
CW: What is your business strategy for growth in 2025 and beyond?
AkzoNobel: We don’t expect a significant market rebound in 2025 and are focused on cost efficiency, operational improvements and portfolio rebalancing and strengthening.
Our focus on reducing complexity, enhancing productivity and optimizing our network. We are also streamlining the company’s management structure. Beyond that, we are taking a critical look at our portfolio and identifying the businesses where we want to double down, and those for which there could be better owners.
BASF: The year 2025 will continue to be influenced by economic and geopolitical uncertainties that all market participants must adapt to. Increased competitive pressure and moderate volume growth, coupled with stagnation in Europe, present ongoing challenges. BASF Coatings will continue to capitalize on market trends across its businesses.
For our automotive OEM business, we anticipate organic growth through our existing customer base, by leveraging our leading position in China, and through new players in niche markets, including NEVs and other entries. BASF refinish coatings aims to continue to grow its customer base through new market offerings and is gaining share in the value-for-money segment. Finally, building on our strong position in automotive surface treatments, there is growth opportunity for our surface treatment business, through industry diversification in the aerospace industry as well as the coil business.
The underpinning of all our products and applications is our ability to identify trends and offer customers innovative solutions to enhance their products and business performance in a sustainable way. For example, low-bake automotive OEM coatings, our premium 100 Line and biomass balanced (BMB) refinish products and our thin-film pre-treatments offer customers superior alternatives to traditional processes and products. In addition, we continue to expand our digital service offerings for customers that enhance operational efficiency, including Refinity and Guardvision.
Berger Paints: Our business strategy for growth in 2025 and beyond is anchored on delivering profitable growth. Let me walk you through our key strategic pillars:
• Expanding Distribution:
We are committed to building a robust and extensive distribution network. Today our network encompasses a variety of models, including distributors, wholesalers, retailers, and branded stores. By leveraging these diverse channels, we ensure that our products reach customers effectively, irrespective of geography or market segment. This holistic distribution strategy not only expands our market presence but also strengthens our supply chain, enabling us to cater to a wider audience while ensuring timely availability of our offerings.
• Building Strong Brands:
Our legacy is defined by a history of innovation and a proven track record of creating industry-first products. At Berger Paints, we have continuously built and nurtured strong, iconic brands, whether in the decorative or in the protective coating segments, that resonate with our customers. This enduring commitment to excellence and innovation forms the backbone of our strategy. By consistently pushing the boundaries of what’s possible, we ensure that our brands remain at the forefront of the market, delivering value and building lasting customer loyalty.
• Innovative Products and Services:
Innovation remains at the heart of our growth strategy. We are actively developing cutting-edge products that meet emerging market trends, such as eco-friendly and low VOC solutions, alongside advanced construction chemicals. These innovations not only align with environmental sustainability but also address the evolving needs of our customers. By continuously introducing pioneering products, we differentiate ourselves in the marketplace and create significant value for our stakeholders.
• Cost Management through Technology:
As part of our strategy to protect margins and drive profitable growth, we are adopting state-of-the-art technology and efficiency solutions to streamline our operations. This technological integration allows us to manage costs more effectively while maintaining high operational standards. By harnessing the power of digital transformation, we are better positioned to respond to market dynamics and optimize our processes, ensuring sustainable profitability.
• Talent Retention and Growth:
Our people are our greatest asset, and we are deeply committed to fostering a culture of continuous learning and innovation. We invest in ongoing education and provide ample opportunities for our teams to experiment and grow. By empowering our talent through skill development and career advancement programs, we ensure that our workforce remains motivated, agile, and well-equipped to drive our strategic initiatives forward.
In summary, our comprehensive strategy for 2025 and beyond focuses on expanding our distribution channels, leveraging our rich heritage of brand innovation, pioneering eco-friendly and specialized products, utilizing technology for cost efficiency, and nurturing our talented workforce. This integrated approach positions Berger Paints for sustained profitable growth in an ever-evolving market landscape.
Hempel: Guided by the principles of our Double Impact strategy, we are focused on driving innovation, digitalization and operational scalability. We are committed to accelerating innovation and bringing new technologies to market that drive lasting impact for our customers, delivering differentiated and value-adding solutions that can support their sustainability ambitions. Scalability will give us a more harmonized global setup, with smarter use of resources. This will allow us to grow Hempel while increasing profitability. These efforts not only enhance our profitability but also help us grow efficiently and simplify our processes, so we can better serve our customers.
HMG Paints: As it has been since 1930, our strategy focuses on innovation, sustainability, and customer collaboration. We aim to expand our product offerings, particularly in environmentally friendly coatings, and strengthen our technical support services. Investing in research and development, as well as fostering long-term partnerships, will be key drivers of our growth, assisted by investment in our manufacturing facilities and the advancement and development of our own staff.
Mäder: In 2025, we will continue to reinforce our distinct market positioning. We are actively developing innovative products aligned with this strategic positioning and tailored to our customers’ evolving needs. These solutions, designed for our priority markets, will be introduced in 2025. Our commitment extends beyond product innovation, as we work alongside our customers to enhance both their environmental footprint and the efficiency of their paint and composites processes.
Furthermore, we remain steadfast in our ambition to reduce our own environmental impact by optimizing our production processes and advancing the development of more sustainable formulations. Once again, we are confident in the strategic direction we have set, which will enable us to strengthen our customer proximity, further demonstrate the value of our partnerships, and, as a result, continue expanding our market share.
Sinteplast: We are committed to continuing our growth by leveraging innovation and consolidating our presence in the markets of the countries where we operate. As leaders in Argentina, the challenge in 2025 will be to maintain this leadership by evaluating investment opportunities and pursuing growth strategies that strengthen our main pillars, innovation being one of them, while expanding our market reach.
Vitex: Vitex has declared 2025 as the year of transformation. Our rapid organic growth of nearly 100% in the last five years is putting pressure on all our processes and resources. A significant investment program is maturing within the first half of the year. Digital infrastructure is the first pylon, and we have already started with our new ERP and CRM while we continue to “build” a data warehouse. A significant part of our digital investments is focused on cybersecurity and business continuity. Other initiatives are not to be disclosed yet, but we are looking towards real value adding application of AI.
On the “hard” part of the investments we are putting in operation a new production facility that will support our ETICS customers, a new warehouse in Greece that will grow our paint factory storage capacity by 50% and a new office building and logistics center in Serbia. Along with other investments and changes to be launched in the second half, we aim to transform Vitex into a paints and construction materials leading force.
CW: In what areas are you focusing your R&D efforts?
AkzoNobel: We are committed to capturing the opportunities that sustainability presents as a catalyst for innovation. We recognize that sustainability is driving changes in our industry and believe this aligns with our strengths in innovation and our leadership position in sustainability.
During the year, we launched several solutions that demonstrate our focus on driving industry change:
• Superdurable low-bake Interpon powder coatings that help protect building surfaces in more challenging environments, supporting our customers in reducing their carbon emissions.
• High-performance internal can coating technology which is free of all bisphenols, styrene, PFAS and formaldehyde.
• Innovative Resicoat powder coatings technology that provides improved electrical protection for EV battery systems.
BASF: Our R&D units explicitly focus on addressing industry-specific needs of our customers. With a focus on innovation, we are developing new products and solutions that deliver our customers competitive and sustainability advantages. By helping our customers to reduce their carbon footprint, use resources more efficiently, and manufacture superior products in a more environmentally friendly way, we ensure our long-term competitiveness, while playing a role in decoupling growth from the consumption of
limited resources.
Sustainability and digitalization will continue to be central themes shaping all our development efforts in the future. In close collaboration with our customers, we are continuously refining our products and processes to reduce energy consumption and material usage. For instance, in the field of automotive OEM coatings, we are working on solutions that provide more sustainable alternatives to traditional pigments. This concept was recognized in 2024 with the prestigious Red Dot Design Award, highlighting the optimal interplay of functionality, aesthetics, and sustainability. Such accolades not only affirm our commitment to eco-friendly practices but also illustrate our dedication to meeting the evolving demands of the automotive industry.
Benjamin Moore: At Benjamin Moore, we are always innovating and ensuring that we are meeting our customer’s needs by providing premium paints and colors suitable for every job.
This year specifically, Benjamin Moore remains focused on manufacturing quality products that meet – and often exceed – rigorous environmental and performance criteria regarding VOCs, emissions, application, washability, scrubbability and packaging, while also delivering the premium levels of performance you expect from Benjamin Moore. More information on product developments in this area will follow in the coming weeks as we launch new introductions into the market.
Berger Paints: At Berger Paints, R&D is a mission-critical function as we strive to lead the industry in innovation. Our current focus areas include:
• Nanotechnology: We are harnessing advanced nano solutions to enhance product performance and durability.
• Coatings for Green Energy: We are developing specialized coatings for green energy applications, such as EV batteries, solar panels, and windmill blades, to support the transition towards sustainable energy.
• Cost Optimization: We are continually refining our formulations and processes to optimize costs for our regular product range, ensuring competitive pricing without compromising on quality.
These initiatives underscore our commitment to driving technological advancement and sustainability in the industry.
Hempel: At Hempel, we are accelerating our strategic focus on developing differentiating solutions and providing superior customer experiences. Sustainability is deeply ingrained in how we innovate and develop our solutions. Our customers rely on us to deliver innovative solutions that help them reduce their environmental impact and deliver on their sustainability ambitions.
Accelerated innovation is not just about speed; it is also about increasing impact by aligning customer needs with our own sustainability goals. In practical terms, this means ensuring our efforts to minimize resource use, extend the lifetime of our customers’ important assets and improve end-of-use disposal options that are commercially viable and clearly add value for our customers.
HMG Paints: Our R&D efforts are concentrated on developing high-performance, eco-friendly coatings that meet stringent environmental regulations without compromising quality. As always at HMG we have a number of projects in collaboration with our customers to develop tailored coating solutions using the latest and best available raw materials.
Mäder: Mäder Group’s specific positioning has always encompassed its contribution to a sustainable future and its participation in environmental transition. This is in its DNA. We continue to accelerate for this shift towards sustainable chemistry. In line with this positioning, our development and our R&D forces are resolutely focused on solutions that respect human health and the environment. Moreover, we intensify support of our customers in the improvement of their own impact through development of coatings and composites requiring, for example, less energy in the process.
Sinteplast: As we mentioned previously, we are dedicating our R&D efforts to driving innovation and sustainability. We are aware that the future of our industry relies on producing not only effective products, but also environmentally friendly.
Our products are designed to be sustainable, highly efficient and eco-friendly, ensuring to meet the needs of both the consumers and the planet. The last years we have pushed our technological boundaries so as to reduce environmental impact. From waterproofing solutions to energy-saving coatings, every product we introduce is aimed at building a greener future.
Vitex: Vitex is focusing its R&D efforts on three main areas:
1. Sustainable & Low Environmental Impact Products: By integrating bio-based and recycled raw materials, Vitex is committed to developing products that are environmentally friendly and sustainable.
2. Climatic Resilient Coatings: These coatings are designed to offer advanced weather resistance and anti-carbonization properties, enhancing workability during abnormal conditions caused by climate change.
3. Smart & Functional Paints: Innovations in this area include photocatalytic, antimicrobial, and air-purifying coatings that enhance energy efficiency and promote healthier indoor environments.
By combining cutting-edge research with a strong commitment to sustainability, Vitex continues to set new benchmarks in the coatings and construction industry, delivering solutions that enhance performance, protect the environment, improve application efficiency, and offer climate-resilient solutions.
CW: What are your company’s long-term plans?
AkzoNobel: At AkzoNobel, we operate a global portfolio of Paints and Coatings businesses. Our strategic approach is therefore focused on the specific requirements of different markets and customers, which results in distinct and effective strategies to outperform in the areas where we’re active. We’ve established the following overarching strategic pillars across our portfolio of businesses:
1. Sustainability-driven innovation.
2. Growth in focus segments and markets.
3. Industrial excellence and simplifying our execution model.
4. Active portfolio management.
These pillars provide the foundation for our sustainable long-term value creation.
BASF: With its new strategy announced in September 2024, the BASF Group aims to unlock the value creation of its stand-alone businesses. As a stand-alone business, BASF Coatings is taking actions to operate as a more agile and autonomous business, which will enable it to take advantage of growth opportunities for long-term success in its markets. The basis is a strong team living a culture based on trust, courage, and empowerment. Times of transformation require all to embrace change with curiosity and implement bold ideas for the future, always having the value for the customers in mind.
Benjamin Moore: We continue to stand by the same goal we’ve had for more than 140 years – to manufacture premium paint and beautiful colors that help to transform the spaces in which we live and work. We will continue to push the boundaries of innovation, while championing sustainability, and are committed to keeping the independent channel strong.
Berger Paints: Our long-term plans are centered on achieving sustained, profitable growth while operating responsibly. We are committed to enhancing our ESG score through continuous improvement in our environmental, social, and governance practices. Our ambition is to be the market leader—or at least a strong runner-up—in every category, including paints, coatings, and waterproofing. At the same time, we are dedicated to being one of the most innovative companies in our industry, continuously pushing boundaries to deliver exceptional products and value to our customers.
Hempel: We are committed to our growth journey – not just because it makes good business sense, but because it will maximize the positive impact that our company, people and majority owner, the Hempel Foundation, can have together on the world around us. In 2024, we took the next step on our growth journey and welcomed CVC as minority investor in Hempel. To win in an increasingly competitive and consolidating industry, we need to be even larger than we are today. With size comes greater opportunities for scalability and profitability. It also gives us greater resilience in the market.
HMG Paints: HMG Paints is committed to maintaining its position as the UK’s leading independent paint manufacturer. Our long-term plans include continuous product innovation, expansion into new markets, and upholding our reputation for exceptional customer service and technical support. This is underpinned by our ongoing commitment to invest in our infrastructure (production, logistics, R&D and more) along with that of our people. We’re incredibly proud of our team, and cultivating the next wave of HMG talent will enhance our operational efficiency and overall performance in the future.
Mäder: Our long-term strategic vision remains fully aligned with the actions we are implementing today, reinforcing our commitment to sustainable growth and international expansion.
We will continue to strengthen our presence in key markets and extend our geographical presence, particularly by supporting our customers in the strategic mobility segments to consolidate our position as a leading international player in the Coatings & Composites industry. This expansion will be driven by our ability to provide tailored, high-performance solutions that meet evolving industry demands while fostering long-term partnerships.
At the same time, we have made significant progress in assessing and minimizing our environmental footprint. Our commitment to sustainability remains at the core of our strategy, guiding us toward the development of more responsible solutions. Moving forward, we will intensify our efforts by adopting a comprehensive life-cycle approach to the painting process. This includes not only the eco-design of our products but also the reduction of environmental impact at every stage - from raw material sourcing and production to application processes and end of life management at our customers’ sites. By optimizing energy consumption, resource efficiency, and waste reduction throughout these processes, we reaffirm our ambition to lead the industry in sustainable innovation.
Sinteplast: Our long-term plan is to solidify our leadership position in Argentina while expanding our presence in other countries such as Brazil, Uruguay, Paraguay and Bolivia. To achieve this, we are committed to continue innovation, strategic investment and focus on producing sustainable and high-performance products.
Vitex: To continue growing rapidly and become a significant ambassador of Greek entrepreneurial excellence internationally. We will remain independent and aim to maintain our anthropocentric culture that fosters daily wonders with science, fun and care.
CW: How did the market for paints and coatings fare overall in 2024?
AkzoNobel: It was a year of solid organic growth for AkzoNobel as we grew profitability in mixed market conditions.
From a business perspective, 2024 presented a varied landscape for Decorative Paints, with performance differing across regions. EMEA demonstrated resilience, maintaining performance in flat market conditions, while Latin America delivered strong growth, led by Brazil. South East Asia achieved the highest volume growth across regions, driven by robust demand in India and Indonesia. In contrast, China faced significant market weakness, which impacted our overall performance in Asia.
Performance Coatings delivered a solid performance. Despite varying demand trends in sectors such as automotive and industrial, the business achieved growth. Robust new-build order books drove further recovery in Marine and Protective Coatings, while Powder Coatings maintained its positive momentum in soft markets, with weak automotive demand in the second half of the year. Industrial Coatings started the year strong, particularly in Coil and Packaging, although industrial demand softened later in the year. Aerospace was resilient and overcame OEM supply chain challenges. Geographically, China delivered strong performance across most Coatings businesses – in contrast to what we saw in Decorative Paints.
BASF: Global vehicle production in the automotive industry decreased by 2% in 2024. Despite mixed market conditions globally and ongoing economic challenges, BASF Coatings achieved solid results and performed at generally the same level as the previous year. We largely compensated for the declining volume in the automotive industry through increased sales in the surface technology sector. Staying close to our customers and focusing on what they value – along with a more global management of our operations – are key success factors.
Benjamin Moore: Overall, in 2024, there were several economic and industry factors impacting the home improvement and architectural coatings categories. Mortgage rates were in flux throughout the year, creating choppy demand and a weaker housing market. Unprecedented weather has also affected select markets, while inflation and affordability remain top-of-mind for consumers. Generally speaking, the industry fared better in comparison to 2023, and we anticipate growth in the year ahead across segments, and particularly in residential repaint.
Berger Paints: 2024 has been an eventful year for the industry, marked by some demand headwinds with many industry players not faring as well as in earlier years. However, Berger Paints will deliver high single-digit volume growth and muted value growth coming on the back of a 5% price decrease taken last year in decorative paints that constitutes close to 80% of our business. The industrial and protective coatings businesses did better clocking healthy volume and value sales growth. The industry is also seeing increased competition, with several new entrants over the past 12-24 months, leading to a more dynamic and competitive landscape. We anticipate a period of market adjustment and realignment as a result.
Hempel: 2024 was a year where we saw global macroeconomic instability impacting the paints and coatings market. Across the different industries that Hempel works in, a variety of factors impacted business, including subdued construction activity, low consumer confidence, geopolitical tensions, and market contraction in the renewables sector in EMEA. Despite these challenges, Hempel continued to be guided by its Double Impact growth strategy to become an industry-winning enterprise.
HMG Paints: In 2024, HMG experienced a positive trajectory, with increased demand across various sectors and establishment of new partnerships. We supported the growth by launching numerous innovative products, and further expanded our water-based and specialist product portfolios.
Mäder: In 2024, the economic environment remained challenging. In the industrial markets in which we operate, we observed project postponements and declines in activity, which had an impact on some of our businesses. Moreover, the competitive dynamics of the industrial paint market are undergoing significant transformation. While market consolidation is becoming increasingly evident, we perceive this evolution as an opportunity rather than a risk.
In this context, we upheld our business development strategy, strengthening prospecting efforts and expanding internationally, mitigating the economic downturn’s impact.
The continued deployment of our Ë-Volve strategic plan delivered tangible progress, reinforcing our CSR and decarbonization commitments. Advancing in impact measurement and sustainable innovation, we were honored with the EcoVadis Gold certification, recognizing our dedication to responsible practices. A customer satisfaction survey further highlighted key strengths such as our commercial and technical support, strong client relationships, high service standards, and product excellence, reinforcing our commitment to delivering superior value.
Sinteplast: 2024 was a challenging year in Argentina as we faced several political transformations due to the change in presidency. We went through two phases. Firstly, adaptation. As many economic adjustments were made, we had to readjust some of our strategies; this was not an easy task and we noticed a decrease of our product sales as a result. Nevertheless, we stayed loyal to our roots, we worked hard and the second phase of 2024 turned into opportunity for growth. At the moment, we are anticipating a significant recovery in the following months, both in our sales and overall market activity.
Vitex: Consumers’ demand for architectural paint in Southeast Europe was slower than in previous years due to inflation, higher cost of living and reduced purchasing power of the average household. However, the strong economy and high rate of investments in our main market, Greece, was a driver for projects business and Vitex’s ETICS products. Moreover, we performed well with our exports business resulting in an overall sales growth of 18% and a slight improvement in our profitability rate.
CW: Do you anticipate a negative impact regarding proposed tariffs?
AkzoNobel: The paints industry is often a local one for local business. Many of the products we produce are sold in the same country or region. We closely monitor the current situation to assess the impact for ourselves and our customers. Tariffs do generate additional costs, they force us to modify our supply chains and they make our businesses less efficient. That ends up reflected in our pricing.
BASF: Local production is essential to BASF’s strategy worldwide. In the United States, the vast majority of our sales come from products manufactured in the country. This focus on local production for the local market underscores our commitment to the U.S. economy and workforce and ensures that we meet customer needs with locally
produced goods.
As a global automotive supplier, we continue to carefully monitor for further developments in U.S. trade policy. While it is too soon to determine exactly how any new tariffs will impact the automotive supply chain and the coatings industry, we continue to evaluate ways to mitigate our exposure.
Benjamin Moore: It is too early to tell but we will continue to monitor the circumstances and evaluate the implications for our business and customers accordingly.
Berger Paints: The U.S. is not an export market for Berger Paints, and the proposed trade tariffs do not directly affect us.
Hempel: Trade policy developments always have the potential to impact our business, particularly working with industries such as energy and infrastructure. While proposed tariffs could create cost and supply chain challenges, we have built a resilient business model that enables us to adapt swiftly. We continue to work closely with our suppliers, customers and industry partners to ensure that any impact is mitigated while maintaining the high performance and sustainability of our products.
HMG Paints: As a UK-based manufacturer and having dealt with the challenges of Brexit and more recently, HMG Paints is always mindful of the potential implications of proposed tariffs on raw materials and finished goods but our focus is always on being flexible and proactive to limit any potential impact. Having a diverse portfolio of products across a number of sectors means we’re not overly reliant on certain raw materials which will be impacted by tariffs, which helps reduce our exposure.
Additionally, our purchasing team proactively manages our supply chain and explores alternative sourcing strategies, to mitigate any adverse effects, ensuring that our customers continue to receive high-quality products without significant cost increases.
Mäder: From both geopolitical and economic perspectives, the global landscape is expected to remain uncertain in 2025. This situation forces us to remain cautious about the potential impacts of raw material costs. Anti-dumping actions and complex situations in certain areas of the globe suggest, at best, stability and, at worst, a further increase in raw materials.
Nevertheless, we do not expect to return to levels as high as those we experienced in the post-COVID period. But we anticipate notable increases in certain product families,
particularly epoxies. Furthermore, we are closely monitoring the development of other costs such as those of transportation and energy, which may have had, and for some, still have impacts on activities.
Sinteplast: Due to globalization, it is inevitable to be affected by the tariffs around the world. Although raw materials could be affected by tariffs and production surplus, we can’t predict the exact impacts that these may have on our business. We remain optimistic and continue working to navigate through any challenges. As an Argentine company with 66 years of experience, we are accustomed to economic changes and have always overcome every obstacle.
Vitex: Tariffs on TiO2 are a major concern and we monitor the situation closely. Although the rules of the game have changed, we do not see significant impact because of lack of demand in Europe. However, if demand recovers, we believe that EU-based paint producers will have a significant disadvantage over their non-EU peers, which will be especially challenging for the ones like Vitex that operate at its borders. We remain confident with our purchasing strategy and the fact that we relied on our European TiO2 suppliers long before the antidumping measures were implemented, while the cultural proximity and established trust we have with them are valuable.
CW: What areas of the paint and coatings market represent the most growth opportunities for your company?
AkzoNobel: Looking ahead, we’re not planning for a significant market rebound in 2025. Our flat to low single-digit growth will be driven by Marine Coatings, Powder Coatings and emerging Deco markets (Latin America and Asia).
BASF: As a multi-solution partner, we offer innovative and ecologically viable solutions for the automotive industry, including original equipment manufacturers (OEMs) and the refinish market, as well as surface treatment solutions for a variety of industries. We see organic growth potential through our existing customer network, share gains and through continued market consolidation. As the global auto industry continues to evolve and shift, we are well-prepared to leverage our diverse portfolio with eco-efficient and tailor-made products and solutions for the industry.
Benjamin Moore: Looking ahead, we anticipate that both DIYers and professionals alike will take on more projects, as new home construction ramps up this year and potential sales of existing homes, repairs and improvements will need to be made.
Berger Paints: Berger Paints operates across segments with industry leadership in protective coatings and general industrial. We are seeing excellent growth potential in both segments led by the rapid ramp-up in infrastructure that the country is witnessing. With many industries heeding the Make in India call of the government and investing in setting up factories, our general industrial business is also expected to benefit in the coming days.
Construction chemicals and waterproofing will remain one of our key growth drivers as it has in the last few years. We have invested in growing our product range, improving distribution, and deepened engagement with influencers and applicators, steadily improving our market position. Berger probably has one of the widest product ranges in construction chemicals and waterproofing on offer in the Indian market, supported with both ATL and BTL activities. The rapid urbanization of India has provided us the opportunity to power our growth in this segment.
Wood coatings has emerged as a promising segment, presenting further growth potential for the company. We have a full-spectrum product offering and have been working extensively on interior designers, specialist applicators and OEMs to capture all available opportunities.
Hempel: Our focus at Hempel will continue to build segment leadership positions in selected geographies within marine, decorative, infrastructure and energy. Future success in the paint and coatings industry will be driven by groundbreaking technologies and innovation. To move us further along this path, Hempel established a new technology function in 2024 that comprises research & development, procurement and sustainability.
HMG Paints: A trend carrying through from previous years is that rather than one or two market opportunities, we’ve seen growth opportunities surrounding water-based technologies in nearly all of the markets in which we operate. As consumers and industries alike become more sustainability-focused, driven by upcoming government targets on environmental impacts, water-based and sustainable coatings technology represent a key area for the future of our business. Our research and development team has already initiated numerous collaborative projects with both raw material suppliers and customers to develop the next generation of coatings across our markets that will meet environmental and green targets without compromising on performance.
Mäder: Three years ago, we clearly identified the strategic segments for our activities. Markets such as mobility and energy are clearly strategic segments for the Mäder Group. These segments, in which we also have significant market shares that underline our clear positioning, are in line with our ambitions in terms of CSR approach
and decarbonization. In parallel with these historical activities, we are continuing to accelerate our actions in segments such as lifestyle, in line with our DNA.
Sinteplast: We have always focused in producing products that meet consumers’ needs. However, we are currently expanding our focus to include sustainability. For instance, we have recently launched Recuplast atérmico, which is the first athermic, reflecting and waterproofing membrane in Argentina. It not only reduces energy consumption by lowering home temperature by up to 10°C, but it also comes with a 15-year warranty.
Vitex: High volume growth will continue to come from our ETICS segment. It may not be a typical coatings business, but we see more and more architectural paint producers moving into this adjacent market. Vitex has invested heavily in the last decade, and we already play a leading role as a supplier to our main market. Our aim is to grow geographically also. We have recently signed a significant distribution agreement in the Middle East, and we are expanding our export footprint.
CW: What is your business strategy for growth in 2025 and beyond?
AkzoNobel: We don’t expect a significant market rebound in 2025 and are focused on cost efficiency, operational improvements and portfolio rebalancing and strengthening.
Our focus on reducing complexity, enhancing productivity and optimizing our network. We are also streamlining the company’s management structure. Beyond that, we are taking a critical look at our portfolio and identifying the businesses where we want to double down, and those for which there could be better owners.
BASF: The year 2025 will continue to be influenced by economic and geopolitical uncertainties that all market participants must adapt to. Increased competitive pressure and moderate volume growth, coupled with stagnation in Europe, present ongoing challenges. BASF Coatings will continue to capitalize on market trends across its businesses.
For our automotive OEM business, we anticipate organic growth through our existing customer base, by leveraging our leading position in China, and through new players in niche markets, including NEVs and other entries. BASF refinish coatings aims to continue to grow its customer base through new market offerings and is gaining share in the value-for-money segment. Finally, building on our strong position in automotive surface treatments, there is growth opportunity for our surface treatment business, through industry diversification in the aerospace industry as well as the coil business.
The underpinning of all our products and applications is our ability to identify trends and offer customers innovative solutions to enhance their products and business performance in a sustainable way. For example, low-bake automotive OEM coatings, our premium 100 Line and biomass balanced (BMB) refinish products and our thin-film pre-treatments offer customers superior alternatives to traditional processes and products. In addition, we continue to expand our digital service offerings for customers that enhance operational efficiency, including Refinity and Guardvision.
Berger Paints: Our business strategy for growth in 2025 and beyond is anchored on delivering profitable growth. Let me walk you through our key strategic pillars:
• Expanding Distribution:
We are committed to building a robust and extensive distribution network. Today our network encompasses a variety of models, including distributors, wholesalers, retailers, and branded stores. By leveraging these diverse channels, we ensure that our products reach customers effectively, irrespective of geography or market segment. This holistic distribution strategy not only expands our market presence but also strengthens our supply chain, enabling us to cater to a wider audience while ensuring timely availability of our offerings.
• Building Strong Brands:
Our legacy is defined by a history of innovation and a proven track record of creating industry-first products. At Berger Paints, we have continuously built and nurtured strong, iconic brands, whether in the decorative or in the protective coating segments, that resonate with our customers. This enduring commitment to excellence and innovation forms the backbone of our strategy. By consistently pushing the boundaries of what’s possible, we ensure that our brands remain at the forefront of the market, delivering value and building lasting customer loyalty.
• Innovative Products and Services:
Innovation remains at the heart of our growth strategy. We are actively developing cutting-edge products that meet emerging market trends, such as eco-friendly and low VOC solutions, alongside advanced construction chemicals. These innovations not only align with environmental sustainability but also address the evolving needs of our customers. By continuously introducing pioneering products, we differentiate ourselves in the marketplace and create significant value for our stakeholders.
• Cost Management through Technology:
As part of our strategy to protect margins and drive profitable growth, we are adopting state-of-the-art technology and efficiency solutions to streamline our operations. This technological integration allows us to manage costs more effectively while maintaining high operational standards. By harnessing the power of digital transformation, we are better positioned to respond to market dynamics and optimize our processes, ensuring sustainable profitability.
• Talent Retention and Growth:
Our people are our greatest asset, and we are deeply committed to fostering a culture of continuous learning and innovation. We invest in ongoing education and provide ample opportunities for our teams to experiment and grow. By empowering our talent through skill development and career advancement programs, we ensure that our workforce remains motivated, agile, and well-equipped to drive our strategic initiatives forward.
In summary, our comprehensive strategy for 2025 and beyond focuses on expanding our distribution channels, leveraging our rich heritage of brand innovation, pioneering eco-friendly and specialized products, utilizing technology for cost efficiency, and nurturing our talented workforce. This integrated approach positions Berger Paints for sustained profitable growth in an ever-evolving market landscape.
Hempel: Guided by the principles of our Double Impact strategy, we are focused on driving innovation, digitalization and operational scalability. We are committed to accelerating innovation and bringing new technologies to market that drive lasting impact for our customers, delivering differentiated and value-adding solutions that can support their sustainability ambitions. Scalability will give us a more harmonized global setup, with smarter use of resources. This will allow us to grow Hempel while increasing profitability. These efforts not only enhance our profitability but also help us grow efficiently and simplify our processes, so we can better serve our customers.
HMG Paints: As it has been since 1930, our strategy focuses on innovation, sustainability, and customer collaboration. We aim to expand our product offerings, particularly in environmentally friendly coatings, and strengthen our technical support services. Investing in research and development, as well as fostering long-term partnerships, will be key drivers of our growth, assisted by investment in our manufacturing facilities and the advancement and development of our own staff.
Mäder: In 2025, we will continue to reinforce our distinct market positioning. We are actively developing innovative products aligned with this strategic positioning and tailored to our customers’ evolving needs. These solutions, designed for our priority markets, will be introduced in 2025. Our commitment extends beyond product innovation, as we work alongside our customers to enhance both their environmental footprint and the efficiency of their paint and composites processes.
Furthermore, we remain steadfast in our ambition to reduce our own environmental impact by optimizing our production processes and advancing the development of more sustainable formulations. Once again, we are confident in the strategic direction we have set, which will enable us to strengthen our customer proximity, further demonstrate the value of our partnerships, and, as a result, continue expanding our market share.
Sinteplast: We are committed to continuing our growth by leveraging innovation and consolidating our presence in the markets of the countries where we operate. As leaders in Argentina, the challenge in 2025 will be to maintain this leadership by evaluating investment opportunities and pursuing growth strategies that strengthen our main pillars, innovation being one of them, while expanding our market reach.
Vitex: Vitex has declared 2025 as the year of transformation. Our rapid organic growth of nearly 100% in the last five years is putting pressure on all our processes and resources. A significant investment program is maturing within the first half of the year. Digital infrastructure is the first pylon, and we have already started with our new ERP and CRM while we continue to “build” a data warehouse. A significant part of our digital investments is focused on cybersecurity and business continuity. Other initiatives are not to be disclosed yet, but we are looking towards real value adding application of AI.
On the “hard” part of the investments we are putting in operation a new production facility that will support our ETICS customers, a new warehouse in Greece that will grow our paint factory storage capacity by 50% and a new office building and logistics center in Serbia. Along with other investments and changes to be launched in the second half, we aim to transform Vitex into a paints and construction materials leading force.
CW: In what areas are you focusing your R&D efforts?
AkzoNobel: We are committed to capturing the opportunities that sustainability presents as a catalyst for innovation. We recognize that sustainability is driving changes in our industry and believe this aligns with our strengths in innovation and our leadership position in sustainability.
During the year, we launched several solutions that demonstrate our focus on driving industry change:
• Superdurable low-bake Interpon powder coatings that help protect building surfaces in more challenging environments, supporting our customers in reducing their carbon emissions.
• High-performance internal can coating technology which is free of all bisphenols, styrene, PFAS and formaldehyde.
• Innovative Resicoat powder coatings technology that provides improved electrical protection for EV battery systems.
BASF: Our R&D units explicitly focus on addressing industry-specific needs of our customers. With a focus on innovation, we are developing new products and solutions that deliver our customers competitive and sustainability advantages. By helping our customers to reduce their carbon footprint, use resources more efficiently, and manufacture superior products in a more environmentally friendly way, we ensure our long-term competitiveness, while playing a role in decoupling growth from the consumption of
limited resources.
Sustainability and digitalization will continue to be central themes shaping all our development efforts in the future. In close collaboration with our customers, we are continuously refining our products and processes to reduce energy consumption and material usage. For instance, in the field of automotive OEM coatings, we are working on solutions that provide more sustainable alternatives to traditional pigments. This concept was recognized in 2024 with the prestigious Red Dot Design Award, highlighting the optimal interplay of functionality, aesthetics, and sustainability. Such accolades not only affirm our commitment to eco-friendly practices but also illustrate our dedication to meeting the evolving demands of the automotive industry.
Benjamin Moore: At Benjamin Moore, we are always innovating and ensuring that we are meeting our customer’s needs by providing premium paints and colors suitable for every job.
This year specifically, Benjamin Moore remains focused on manufacturing quality products that meet – and often exceed – rigorous environmental and performance criteria regarding VOCs, emissions, application, washability, scrubbability and packaging, while also delivering the premium levels of performance you expect from Benjamin Moore. More information on product developments in this area will follow in the coming weeks as we launch new introductions into the market.
Berger Paints: At Berger Paints, R&D is a mission-critical function as we strive to lead the industry in innovation. Our current focus areas include:
• Nanotechnology: We are harnessing advanced nano solutions to enhance product performance and durability.
• Coatings for Green Energy: We are developing specialized coatings for green energy applications, such as EV batteries, solar panels, and windmill blades, to support the transition towards sustainable energy.
• Cost Optimization: We are continually refining our formulations and processes to optimize costs for our regular product range, ensuring competitive pricing without compromising on quality.
These initiatives underscore our commitment to driving technological advancement and sustainability in the industry.
Hempel: At Hempel, we are accelerating our strategic focus on developing differentiating solutions and providing superior customer experiences. Sustainability is deeply ingrained in how we innovate and develop our solutions. Our customers rely on us to deliver innovative solutions that help them reduce their environmental impact and deliver on their sustainability ambitions.
Accelerated innovation is not just about speed; it is also about increasing impact by aligning customer needs with our own sustainability goals. In practical terms, this means ensuring our efforts to minimize resource use, extend the lifetime of our customers’ important assets and improve end-of-use disposal options that are commercially viable and clearly add value for our customers.
HMG Paints: Our R&D efforts are concentrated on developing high-performance, eco-friendly coatings that meet stringent environmental regulations without compromising quality. As always at HMG we have a number of projects in collaboration with our customers to develop tailored coating solutions using the latest and best available raw materials.
Mäder: Mäder Group’s specific positioning has always encompassed its contribution to a sustainable future and its participation in environmental transition. This is in its DNA. We continue to accelerate for this shift towards sustainable chemistry. In line with this positioning, our development and our R&D forces are resolutely focused on solutions that respect human health and the environment. Moreover, we intensify support of our customers in the improvement of their own impact through development of coatings and composites requiring, for example, less energy in the process.
Sinteplast: As we mentioned previously, we are dedicating our R&D efforts to driving innovation and sustainability. We are aware that the future of our industry relies on producing not only effective products, but also environmentally friendly.
Our products are designed to be sustainable, highly efficient and eco-friendly, ensuring to meet the needs of both the consumers and the planet. The last years we have pushed our technological boundaries so as to reduce environmental impact. From waterproofing solutions to energy-saving coatings, every product we introduce is aimed at building a greener future.
Vitex: Vitex is focusing its R&D efforts on three main areas:
1. Sustainable & Low Environmental Impact Products: By integrating bio-based and recycled raw materials, Vitex is committed to developing products that are environmentally friendly and sustainable.
2. Climatic Resilient Coatings: These coatings are designed to offer advanced weather resistance and anti-carbonization properties, enhancing workability during abnormal conditions caused by climate change.
3. Smart & Functional Paints: Innovations in this area include photocatalytic, antimicrobial, and air-purifying coatings that enhance energy efficiency and promote healthier indoor environments.
By combining cutting-edge research with a strong commitment to sustainability, Vitex continues to set new benchmarks in the coatings and construction industry, delivering solutions that enhance performance, protect the environment, improve application efficiency, and offer climate-resilient solutions.
CW: What are your company’s long-term plans?
AkzoNobel: At AkzoNobel, we operate a global portfolio of Paints and Coatings businesses. Our strategic approach is therefore focused on the specific requirements of different markets and customers, which results in distinct and effective strategies to outperform in the areas where we’re active. We’ve established the following overarching strategic pillars across our portfolio of businesses:
1. Sustainability-driven innovation.
2. Growth in focus segments and markets.
3. Industrial excellence and simplifying our execution model.
4. Active portfolio management.
These pillars provide the foundation for our sustainable long-term value creation.
BASF: With its new strategy announced in September 2024, the BASF Group aims to unlock the value creation of its stand-alone businesses. As a stand-alone business, BASF Coatings is taking actions to operate as a more agile and autonomous business, which will enable it to take advantage of growth opportunities for long-term success in its markets. The basis is a strong team living a culture based on trust, courage, and empowerment. Times of transformation require all to embrace change with curiosity and implement bold ideas for the future, always having the value for the customers in mind.
Benjamin Moore: We continue to stand by the same goal we’ve had for more than 140 years – to manufacture premium paint and beautiful colors that help to transform the spaces in which we live and work. We will continue to push the boundaries of innovation, while championing sustainability, and are committed to keeping the independent channel strong.
Berger Paints: Our long-term plans are centered on achieving sustained, profitable growth while operating responsibly. We are committed to enhancing our ESG score through continuous improvement in our environmental, social, and governance practices. Our ambition is to be the market leader—or at least a strong runner-up—in every category, including paints, coatings, and waterproofing. At the same time, we are dedicated to being one of the most innovative companies in our industry, continuously pushing boundaries to deliver exceptional products and value to our customers.
Hempel: We are committed to our growth journey – not just because it makes good business sense, but because it will maximize the positive impact that our company, people and majority owner, the Hempel Foundation, can have together on the world around us. In 2024, we took the next step on our growth journey and welcomed CVC as minority investor in Hempel. To win in an increasingly competitive and consolidating industry, we need to be even larger than we are today. With size comes greater opportunities for scalability and profitability. It also gives us greater resilience in the market.
HMG Paints: HMG Paints is committed to maintaining its position as the UK’s leading independent paint manufacturer. Our long-term plans include continuous product innovation, expansion into new markets, and upholding our reputation for exceptional customer service and technical support. This is underpinned by our ongoing commitment to invest in our infrastructure (production, logistics, R&D and more) along with that of our people. We’re incredibly proud of our team, and cultivating the next wave of HMG talent will enhance our operational efficiency and overall performance in the future.
Mäder: Our long-term strategic vision remains fully aligned with the actions we are implementing today, reinforcing our commitment to sustainable growth and international expansion.
We will continue to strengthen our presence in key markets and extend our geographical presence, particularly by supporting our customers in the strategic mobility segments to consolidate our position as a leading international player in the Coatings & Composites industry. This expansion will be driven by our ability to provide tailored, high-performance solutions that meet evolving industry demands while fostering long-term partnerships.
At the same time, we have made significant progress in assessing and minimizing our environmental footprint. Our commitment to sustainability remains at the core of our strategy, guiding us toward the development of more responsible solutions. Moving forward, we will intensify our efforts by adopting a comprehensive life-cycle approach to the painting process. This includes not only the eco-design of our products but also the reduction of environmental impact at every stage - from raw material sourcing and production to application processes and end of life management at our customers’ sites. By optimizing energy consumption, resource efficiency, and waste reduction throughout these processes, we reaffirm our ambition to lead the industry in sustainable innovation.
Sinteplast: Our long-term plan is to solidify our leadership position in Argentina while expanding our presence in other countries such as Brazil, Uruguay, Paraguay and Bolivia. To achieve this, we are committed to continue innovation, strategic investment and focus on producing sustainable and high-performance products.
Vitex: To continue growing rapidly and become a significant ambassador of Greek entrepreneurial excellence internationally. We will remain independent and aim to maintain our anthropocentric culture that fosters daily wonders with science, fun and care.
