42 | Sector Focus: Coatings & Finishes
SUMMARY
â– Inflation has had an impact on AkzoNobel’s end markets
â– Teknos has a network of over 25 independent paint and coatings merchants
â– Industrial customers are increasingly aware of their environmental responsibilities
BETTER TIMES BECKON
Last year was challenging for the wood coatings sector, but manufacturers expect the market to rebound this year and next. Sally Spencer reports
After a challenging 2023 due to the geopolitical situation and overall macro- economic climate, the wood coatings industry had realistic expectations going into 2024. “The existing geo-political tensions along with global inflation have subdued construction and created challenging market conditions,” said Sabrina Garasi, Regional Product Marketing Manager EMEA. “AkzoNobel Wood Finishes serves categories linked with construction and refurbishment, so inflation has a disproportionately high impact on our end markets. The housing
market, which has experienced high interest rates and rising house prices, also had an impact.”
That said, AkzoNobel expects the industry to start rebounding in 2025 and through 2026. The fact that it operates in both interior and exterior markets globally and across a broad range of end uses, from kitchen cabinets and furniture, to building products and flooring, means it can capitalise on demand from all corners.
“Our wood coatings serve critical segments such as building products, cabinets, flooring,
and furniture, all of which continue to have strong underlying trends that will continue to grow the market in the future,” said Ms Garasi. Teknos also benefits from its wide-ranging portfolio of products. “Most people know Teknos for our industrial coatings, but we also offer a range of maintenance paints for timber windows and doors,” said Jon Mears, Regional Marketing Business Partner at Teknos. “Using Teknos paints throughout the life cycle of timber windows and doors, extending their service life, can make them a more sustainable solution for homeowners,” he added. “To promote this, we focused on ensuring our maintenance paints are more widely available through our network of over 25 independent paint and coatings merchants, as well as launching an online store.” As for what the market is looking for these days, sustainability is still top of the wish list. “Our industrial customers are increasingly aware of their environmental responsibilities and the need to stay ahead of the regulations,” said Mr Mears. “They want to work in partnership with their coating suppliers to reduce emissions and extend the lifecycle of their products. The coating industry has committed to carbon neutrality by 2050 and Teknos is one of the suppliers looking closely at CO2
across the entire Above: AkzoNobel’s Colour of the Year is True Joy TTJ | January/February 2025 |
www.ttjonline.com
value chain. Our sustainability efforts were recognised last year when we were awarded EcoVadis Gold, putting Teknos in the top 5% of EcoVadis assessed companies.” Customer demands and requirements have been evolving for Akzo Nobel too,
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