Empowering the Future Refinish Coatings Market with Customers and Industrial Partners
Shanghai, December 5th, 2019 -- Axalta (NYSE: AXTA), the world’s leader in automotive refinish coatings, and a leading global supplier of liquid and powder coatings, recently showcased its sustainable coating solutions and technologies at the International Bodyshop Industry Symposium (IBIS) China 2019 in Shanghai. Themed “Embracing Transformation,” IBIS China gathered prominent industry experts, major market influencers, and key customers at this conference to discuss industry challenges and trends. Axalta joins IBIS China as a global headline partner through a three-year deal with Plenham Ltd., which is recognized as the world’s leading collision repair conference provider.
“Axalta is an industry leader in sustainable coating solutions and technological innovations,” said Troy Weaver, Axalta's Vice President of Global Refinish. “As a Global Partner to IBIS, we are pleased to have the opportunity to bring together industry thought leaders at IBIS China to share our views on establishing a more sustainable Refinish industry in China while also empowering growth here for the long-term.”
On the partnership, IBIS CEO Jason Moseley, commented, ‘We are really pleased to have the support of Axalta, our global partner, at IBIS China. Through the leadership of Axalta, we had many interactive discussions about the future of our industry in China. The future is bright and we’re looking forward to a future of both profitable and sustainable growth.”
According to BIS Research, the global automotive refinish coating market maintained growth at a CAGR of 5.3% between 2016 and 2026. While the market has considerably evolved in the developed regions such as North America, and Europe, it is gaining popularity in the emerging regions such as Asia-Pacific, Middle East & Africa (ME&A), and South America.
China remains the world’s largest automotive market and has the second largest car park in the world, according to a 2018 auto consumption report released by the China Automobile Dealers Association.
Within the country, the manufacturing and application of sustainable automotive coatings and refinish coatings in the automotive aftermarket were one of the most important issues for the sustainable growth of the industry.
“China’s refinish market is going through a transformation.” said Willie Wu, President of Axalta Greater China. “Axalta sees many opportunities to lead the industry in sustainable waterborne coatings as well as full digital color management technology. We aim to bring our global expertise and experience in sustainable and innovative refinish coating solutions to help the industry seize opportunities to meet the evolving demands of customers in the Chinese market.”
During the conference, Peter Chen, Axalta China Refinish Product Manager delivered a speech titled “The Chinese Coating Market Under Environmental Pressure and Economic Slowdown,” which highlighted government policies on environmental protection and the adoption of waterborne refinish coatings and innovative processes.
As a leader in China’s coating market, Axalta has continuously invested in the sustainable development of coating industry and has promoted the application of the waterborne refinish coatings locally with a series of initiatives. For example, the company has supported the Green Coating Training Session in collaboration with the China National Coatings Industry Association in five cities, issuing the first industry-wide white paper on the benefits of waterborne refinish coatings application in China entitled ‘China’s Waterborne Refinish Coating Technology and Application White Paper,’ Axalta has also work hand-in-hand with customers nation-wide including auto OEMs and independent automotive refinish body shops to upgrade industrial service standards by improving their sustainability and efficiency.
Axalta is a leading global company focused solely on coatings and providing customers with innovative, colorful, beautiful and sustainable solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, buildings, pipelines and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enable the materials we coat to last longer. With more than 150 years of experience in the coatings industry, the approximately 14,000 people of Axalta continue to find ways to serve our more than 100,000 customers in 130 countries better every day with the finest coatings, application systems and technology. For more information, visit axalta.com and follow us @Axalta on Twitter and on LinkedIn.