Paint and Coating Market Reports

RSS

The company reported second quarter sales in a challenging environment amidst falling sales prices. 

"With the solid second quarter performance and better visibility into the second half of the year, we are raising our full year 2024 guidance,” said Chris Villavarayan, CEO and President. 

The Great Supply Chain Crisis of 2021-2022 acted as a very loud and exceptionally clear wakeup call for all participants within the specialty chemicals value chain. As we move forward, everything needs to be re-examined in the light of the crisis.

Learn why Asia Pacific is becoming the focal point of the market's rapid expansion, and which segments are poised for remarkable growth.

"The pace of the global macroeconomic recovery has been slower than expected. We remain focused on working capital, reducing costs, and matching our operating rates to current demand," said Jim Fitterling, Chair and Chief Executive Officer.

“We saw a continuation of the dynamics of the first quarter, marked by positive volume momentum across most of our businesses. There was still pressure on prices,” said Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE. 

The company's net sales showed low-single-digit percentage growth in what the CEO referred to as a mixed economic environment. 

The coatings resins market is poised for remarkable growth driven by a confluence of factors, including technological advancements, increased demand across various industries, and a growing emphasis on sustainability. This article delves into the key drivers, market trends, challenges, and opportunities shaping the future of the resins market.

The results show revenue is up compared to Q2 last year, but on the half-year, revenue is flat, pushing the company towards the lower end of its year-end guidance.