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In an environment where coating demands and requirements for automotive refinish processes are steadily changing, Axalta has maintained its market leadership through constant innovation and strong customer relationships, said Christeena Thomas, Frost & Sullivan Senior Research Analyst.
However, stringent regulations for volatile organic compound (VOC) emissions and lack of skilled professionals are some of the factors hampering the growth of the global automotive refinish coatings market.
The refinish marketplace, a key component of our Performance Coatings business, is evolving and creating opportunities for growth at Axalta.
Greater governmental regulations with respect to high volatile organic compounds may further impact the growth of automotive refinish coating market.
Recent technology and equipment upgrades at locations in Garland, Texas and Pittsburgh, Pennsylvania have significantly increased manufacturing volumes, and filling and storage capacity for select brands within the Valspar Automotive portfolio, including DeBeer(R) Refinish, Valspar(R) Refinish, Prospray(R) Finishes and Matrix(R) Automotive Finishes.
Fadi Medlej, Axalta's managing director, MENA, added: "Decisions related to automotive repair are following global trends in favour of environmentally responsible products, as well as enabling refinish technicians to improve their productivity at work place while delivering superior car jobs results.
From light OEM vehicles, commercial vehicles and refinish applications to electric motors, buildings and pipelines, our coatings are designed to prevent corrosion, increase productivity and enable the materials we coat to last longer.
The acquisition will strengthen Axalta's capability to serve refinish customers in the region with additional product offerings and an expanded sales and service network.
Axalta maintains that its Nason Finishes' regionally-specific product portfolios are well-established in the economy refinish paint sectors in the United States, Canada, Australia, and Asia Pacific.
Cromax includes all of the product lines that are part of the DuPont Refinish franchise today such as Cromax Pro, Cromax Basecoat, Imron Fleet Line and Centari.
Cromax(R) now includes all the great product lines that have been part of the DuPont Refinish franchise.
Other times, we will refinish the grips and need to be able to make them a simile of the original appearance.