Varying growth patterns for the Top 11 manufacturers
According to the B2B market research and consulting organisation Chem Research, there have been varying growth patterns for the Top 11 global manufacturers of paints and
coatings in Q1 2021.
Collectively the Top 11 global manufacturers of paints and coatings increased their sales volume by about 14 % in the first quarter of 2021 compared to 2020. The varying growth patterns were influenced by the companies’ product mix sold (decorative paints versus industrial coatings), geographic sales focus and acquisition activities.
Asian Paints and Nippon Paint recorded the highest volume-related growth in the 1st quarter of 2021. A strong regional focus on Asia combined with a significant share of the decorative paint market segment boosted this growth. Thus, both companies also exceeded by far their pre-Corona sales volumes of Q1 2019.
PPG with additional volume through acquisition
Akzo Nobel’s and Masco’s sales volumes increased at high double-digit rates. Akzo Nobel benefitted from its large share of the decorative paint market and significant business in Asia, while Masco gained from the construction and renovation boom in the USA.
More than half of the companies among the Top 11 expanded their volumes at single-digit rates. PPG reached additional volume through business acquisition. RPM was the only company showing volume loss.
