TAGS: Powder Coatings
Axalta has 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.
Developing High-end Powder Coating Market
“China is one of the largest markets in the global powder coatings industry and continues to grow,” said Rajeev Rao, Industrial Coatings Vice President 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. As a global leader, we are excited to bring more sustainable technologies and higher performance powder coatings to the Chinese market and our customers.”
Axalta will focus on developing the high-end powder coating market, introducing new product lines and service models. Its flagship brands, Alesta®, AbciteTM 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 global brands will be relaunched with new Chinese names, reaffirming Axalta’s commitment in China. Axalta will also be introducing other high-quality brands, Plascoat, Wireguard and Talisman, commonly used in the decorative and functional industries. Customers will now have direct access to the industry’s most complete portfolio of powder coatings solutions from Axalta.
“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.”
More Efficient Development of Products
Axalta will enhance the local powder coatings R&D capacities by leveraging global R&D processes technology, application experience, and technical service resources. This will help to ensure greater speed and more efficient development of products to meet specific Chinese customers’ needs.
Xu Nuo, Deputy Director of Shanghai Qingpu Economic Commission said, “We are very thrilled to witness another milestone in the development of Axalta's powder coatings journey. Making the Qingpu plant Axalta's powder coatings manufacturing base in China and operating the powder business independently, Axalta is well positioned to develop more innovative powder products and solutions to address the growing demands of the Chinese market.
“We look forward to the Qingpu plant to put in place the best practice in its operations so to further enhance its productivity and contribute to the sustainable development of Qingpu District as well as powder coatings industry in China.”
Jie Liu, Vice President of China National Coating Industrial Association (CNCIA) said, “China's entire powder coating industry is facing the stage of integration, standardization and upgrading. We are pleased with Axalta’s long-term commitment to the China market and to sustainable manufacturing processes. This will have a positive impact on China’s coating industry and is fully aligned with the Chinese government’s goal of a more sustainable society.”
Source: Axalta