announced a new growth strategy for its China powder coatings business.
The new strategy positions the company to more effectively unlock value in the high-end Chinese powder coatings market in the next three years.
“China is one of the largest markets in the global powder coatings industry and continues to grow,” said Rajeev Rao, Industrial Coatings VP of Axalta Global Powder and Business Development and Strategy. “Our new growth strategy aims to enable Axalta to seize opportunities in the high-end market and gain market share by leveraging our innovative powder coatings solutions.”
Axalta will focus on developing the high-end powder coating market, introducing new product lines and service models. Its flagship brands, Alesta, Abcite and NapGard are well known in China in a variety of end-user applications such as transportation, architecture, oil and gas pipelines, rebar, appliances, general industrial and many other segments.
These leading global brands will be relaunched with new Chinese names.
Axalta will also be introducing other high-quality brands, Plascoat, Wireguard and Talisman, commonly used in the decorative and functional industries.
“China's powder coating market has undergone tremendous changes in the last 20 years with the most significant being the increasing demand for high-end powder coatings,” said Willie Wu, president of Axalta Greater China. “Axalta has a stable customer base and has established itself as one of the leading companies in this market. We’re committed to bringing global technology and services to China’s customers to meet their growing demand for high-quality powder coating solutions using sustainable business practices.”
Axalta will enhance the local powder coatings R&D capacities by leveraging global R&D processes technology, application experience, and technical service resources.
Axalta is the world’s second largest powder coatings company with 15 powder plants worldwide, including three in Asia Pacific.