ARCHITECTURAL COATINGS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In June 2021, AkzoNobelV., a global paints and coatings company, announced its plan to grow its operations in South and Central America by acquiring Colombia-based Grupo Orbis, a leading paints and coatings manufacturer with a presence in ten countries in the region
• In June 2021, PPG completed its acquisition of Tikkurila, a leading Nordic paint and coatings company, for a total transaction value of approximately USD 1.18 Bn, including the assumption of debt and cash. This acquisition was aimed at helping PPG extend its paint and coating selections, which now include Tikkurila's environmentally friendly ornamental products as well as high-quality industrial coatings. The combination of PPG and Tikkurila is expected to provide new cross-selling opportunities, growth opportunities for employees, and product solutions for new segments and customers.
• On March 11, 2022, AkzoNobel opened a new global research and development center in Slough, UK, which will act as a major hub within the company's worldwide R&D network and help to further advance AkzoNobel's innovation capabilities, especially in the area of decorative paints.
• On February 10, 2022, Hempel, a global coatings manufacturer, completed the acquisition of the coatings division of Khimji Paints LLC, an Omani conglomerate, to expand its operations in the Middle East. This acquisition is part of Hempel's strategy to double its size by 2025 through both acquisitions and organic growth, as well as investments in sustainability, innovation, and digitalization.