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.”