We made a strong start to the year, with demand recovering rapidly around the world as markets bounced back from the impact of COVID-19. During the second half of 2021, we experienced significant supply chain disruption and increasing raw material costs. However, growth in architectural and industrial markets was very strong, while demand in automotive was impacted by chip shortages. We focused strongly on maintaining our service levels to customers, while defending margins in our value chain.
Despite the turbulent conditions, we outperformed our markets significantly – both in terms of volume and price – and made major progress on the company’s Grow & Deliver strategy. We also laid out an accelerated growth path and successfully continued our multi-year Capex expansion program to support our customers and the market. Through it all, we maintained our resilience and paid extra attention to taking care of our people as the pandemic continued to have an impact.
We responded and adapted to the external challenges, once again demonstrating our ability to significantly outgrow our markets. I’m very proud of what our teams have achieved.Daniela VladDirector of Powder Coatings
Our new Interpon W range of innovative powder on wood coatings achieved its first commercial successes. Designed for heat-sensitive substrates (both indoors and outdoors), it’s a smart system which enables a variety of materials to be coated in a durable, sustainable and more efficient manner. Dedicated commercial teams have been trained to provide superior service to customers making the change to powder on wood. They’re supported by a new R&D lab focused on low cure powder coatings, which was opened at our Como site in Italy.
Other key developments
- Introduced Interpon Cr, which gives a bright metallic chrome effect
- Interpon D2015 Précis Ultra Matt was launched. It delivers an ultra matt finish in a range of colors, bringing a glint of brilliance and luminescence to architectural surfaces
- Began supplying Resicoat products for the landmark Pearl River Delta water diversion project in China, which will supply clean and safe potable water to more than 50 million people
- Significantly increased our digital media presence through targeted campaigns, helping to further grow revenues
- Inspired architects with a sophisticated take on AkzoNobel’s 2022 Color of the Year, Bright Skies, with a shade called Baku. It’s part of the 2022-2025 Futura Collection
- Completed the capacity expansion at Chungli in Taiwan and will relocate activities from Linkou
- Strong uptake of our Interpon Low E product range (lower energy curing), based on increasing energy prices and growing demand for sustainable solutions from customers
- Successfully converted a number of new customers to powder coatings technology, based on environmental (low VOCs, no waste) and process efficiency benefits
Driving the current to power the future
As global demand for electric vehicles – and e-mobility in general – continues to accelerate, we’ve developed advanced technologies to help power the industry into the future.
Manufacturers of electric vehicles and components want world class solutions to help protect motors, battery systems and electrical storage units. We now offer a dedicated powder coatings portfolio, alongside a team of technical specialists to provide expert assistance.
And we’re hardly newcomers to the automotive market. Our powder coatings are already used on car bodies, interiors and alloy wheels. The emergence and rapid growth of e-mobility now presents new opportunities for us to help batteries last longer and vehicles drive further.
Thanks to our renowned Resicoat brand, we have more than 50 years of experience in offering tried, tested and proven performance for a wide range of electrical insulation and high temperature solutions. So we have all the experience and expertise necessary to support the innovators of the next generation technologies that will be used in the world’s most advanced electric vehicles.
Research and development.
Volatile organic compounds.