Based on its recent analysis of the automotive refinish coatings market, Frost & Sullivan has recognized Axalta Coating Systems with the 2017 Global Market Leadership Award.
“Axalta’s flagship brands in the refinish coatings market – Cromax, Spies Hecker and Standox – as well as its specialized products are viewed as premium, market-leading brands based on their excellent track record, servicing body shops around the world as well as some of the top motorsports drivers globally,” said Christeena Thomas, a senior research analyst with Frost & Sullivan.
Axalta introduces a number of new coatings to the refinish market each year in response to consumer needs, Frost & Sullivan noted.
“The company developed its Syrox product system as a response to customer demand for straightforward, conventionally applied, economical and sustainable refinish systems that provide accurate color matching,” Frost & Sullivan said in a news release. “This product provides a cost-effective alternative to competing premium product offerings.”
In addition, Axalta launched application technologies to assist customers in the efficient processing and application of its products on vehicle surfaces, Frost & Sullivan noted. For example, the company introduced its coatings-application system – IntelliMist paint shop climate-control technology – to improve paint shop productivity by automatically controlling spraybooth humidity, “enabling customers to apply all waterborne and solvent-borne coatings with ease, compared to other prevalent systems.”
Apart from a strong product portfolio, Axalta offers numerous value-added services, including product application, testing, installation, training and periodic validation, Frost & Sullivan noted. Axalta recently opened its new Customer Experience Center in Concord, N.C., a 36,000-square-foot facility that features next-generation education, meeting, exhibit and hands-on training spaces for customers. The company also recently announced it has been designated as the official paint partner of NASCAR.
“Axalta invested $180 million in R&D in 2016 and has four dedicated R&D centers worldwide, while taking a consultative product development approach that helps customers reap benefits such as cost optimization, durability and efficiency over the long term,” said Thomas. “The company’s constant product innovation and superior customer services are key reasons why Axalta has maintained its market leadership position in the industry.”
Each year, Frost & Sullivan bestows the award upon the company that demonstrates excellence in growth and customer value. Attaining loyal customers who became brand advocates allows the company to grow and achieve a market leadership position. By committing to the customer at each stage of the buying cycle and continuing to nurture the relationship, the award recognizes a company’s increased market share over time.