Based on its recent analysis of the global commercial vehicle coatings industry, Frost & Sullivan recognizes Axalta with the 2021 Global Commercial Vehicle Coatings Company of the Year Award. The company was recognized for developing innovative coatings, which address the evolving needs of OEMs in designing lighter-weight vehicles and exterior components.
The new basecoat products are unique in the market because they can be applied directly on plastic substrates without an adhesion promoter, reducing the coating application process from the conventional three steps to two steps.
Axalta maintains its global leadership position in the commercial vehicle coatings market through its constant investment in R&D giving Axalta the opportunity to continously create and commercialize new and highly efficient coating solutions. For example, Axalta’s Imron Elite ColorPlus basecoat is a premium basecoat designed specifically for the new and complicated paint schemes of recreational vehicles. ColorPlus uses 30% less material and reduces cycle time by 30%, while still delivering a superior finish. Imron 2K high durability clearcoat, released in September 2020 for customers in Europe, stands out from its competitors in the region. The basecoat is designed to adhere to the stringent volatile organic compound (VOC) limits mandated in European countries while retaining its durability and gloss after multiple washing cycles.
Christeena Thomas, Frost & Sullivan’s senior industry analyst, explains, “Rival DTM Topcoat RV901 and RV902 are easy-to-apply, direct-to-metal (DTM) coatings for customers that reduce overall painting costs and perform well in non-corrosive to mildly corrosive environments.Customers greatly value the product’s single-step application ability using conventional activators, which eliminates the need to create additional inventory of new activators.”
Additionally, one of the biggest megatrends in the transportation industry is the penetration of electric, hybrid electric and autonomous vehicles in existing fleets. As such, Axalta rebranded its automotive and transportation coatings business to Axalta Mobility Coatings earlier this year. The business unit focuses on supporting the increasing demand from electric and autonomous vehicles and shared transportation for coatings most suitable for the efficient working of electric components, navigation, and passenger safety. For example, the Advanced Mobility Solutions category includes coatings with functionalities that can improve thermal management and radar and light detection and ranging (LiDAR) performance. Axalta Advantage includes consulting and customer services by industry experts to help improve productivity in and out of paint shops. Moreover, Axalta’s brands (Imron and Rival) in the commercial vehicle coatings business are highly renowned for their excellent product properties, in addition to the associated services Axalta offers its customers.
Thomas says, “Through constant innovation in product development and business operations, the company builds and commercializes differentiated and sustainable coating systems suitable for the changing requirements of customers with next-generation vehicles, such as electric and autonomous vehicles.”
With more than 150 years of experience in the paint and coatings industry, Axalta has garnered a unique brand image among its customers in the global commercial vehicles industry. Its overall leadership position in the global commercial vehicle coatings market and exceptional performance earns it Frost & Sullivan’s 2021 Global Company of the Year Award.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.