Sarah Gibbons reports for PPCJ on how Large Language Models (LLM) is fuelling AI innovations that could transform the paint and coatings sector From formula composition and supply chain logistics to regulatory compliance, defect identification and corporate reputation, paint and coatings industry companies are exploring the growing potential of artificial intelligence (AI).   With AI taking many different forms, key to the paint and coatings sector’s adoption of more widespread AI options are LLMs (large language models), such as ChatGPT, GPT-4, Llama 2 and Mistral 7B: “By using LLM ..read more

Axalta Coating Systems Ltd., a leading global coatings company, announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights: Net sales increased 0.8% year-over-year to $1.3 billion Announced 2024 Transformation Initiative with an estimated annual $75 million run-rate savings expected in 2026 Net income declined $22 million year-over-year to $39 million primarily due to $55 million of restructuring charges Adjusted EBITDA increased $46 million year-over-year to $259 million with Adjusted EBITDA margin improving 340 basis points year-over ..read more

Sharon Feng has recently been appointed as a Vice President at global consulting firm ChemQuest, having worked for companies such as Bayer MaterialScience, Lanxess and PPG. The numerous leadership roles she has undertaken span a diverse range of areas, such as emerging coating technologies, EHS, supply chain, innovation, R&D, and most recently Feng served as Technical Director for Corporate R&D at PPG Industries. PPCJ spoke to her about her extensive career in the coatings industry and her plans for her new role with ChemQuest Q. How did you come to be at ChemQuest and what attracted y ..read more

Ed Zwirn, New York, Heba Hashem, Niagara Falls and Keith Nuthall report on how the North American coatings sector is struggling with weak demand and expanding regulations The North American paint and coatings sector has been treading water as it struggles against flat demand and increasing regulatory burdens. In the USA, the paint and coatings industry has faced declining sales volumes prompted by tailwinds in the construction sector. At the same time, industry value increased slightly last year, propelled by solid margins and growth in OEM (original equipment manufacturer) purchases and ..read more

PPG has again earned a gold rating in corporate social responsibility from EcoVadis, a leading third-party sustainability ratings platform. PPG ranked higher than 93% of the 130,000 evaluated companies. According to the EcoVadis rating methodology, PPG earned “advanced” scores in the categories of environment, labour and human rights, and sustainable procurement practices. Contributing to PPG’s rating, in 2023: 44% of PPG’s sales were from sustainably advantaged products The company reduced its scope 1 and 2 greenhouse gas emissions by 10% 97% of PPG’s key suppliers were assessed against stri ..read more

Upon the conclusion of BASF’s Annual Shareholders’ Meeting 2024, Dr. Markus Kamieth became the new Chairman of the Board of Executive Directors of BASF SE. At the Annual Shareholders’ Meeting at the Rosengarten Congress Center in Mannheim, Germany, outgoing Chairman Dr. Martin Brudermüller presented his successor with a cycling jersey printed with the BASF logo (pictured). Kamieth obtained his doctorate in organic chemistry at the University of Essen in 1998 and started his career at the company one year later. He has been a member of the Board of Executive Directors of BASF SE since 2017. Bru ..read more

Wacker Chemie AG closed Q1 2024 with lower sales and earnings than the strong prior-year quarter. The chemical group generated sales of around €1.5 billion in the reporting quarter, 15% less than a year earlier (€1.74 billion). This decrease was chiefly due to lower selling prices. By contrast, sales rose 8% compared with the preceding quarter (€1.38 billion). Wacker confirmed its forecast for 2024, in which it expects business to slow slightly compared to last year. Sales are forecast at between €6 billion and €6.5 billion. The chemical group expects EBITDA between €600 million and €800 milli ..read more

Consolidated net sales decreased 1.4% in the quarter to US$5.37 billion Net sales from stores in the Paint Stores Group open more than twelve calendar months were approximately flat in the quarter Diluted net income per share increased 7.1% to US$1.97 per share in the quarter compared to US$1.84 per share in the first quarter 2023 Adjusted diluted net income per share increased 6.4% to US$2.17 per share in the quarter compared to US$2.04 per share in the first quarter 2023 Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the quarter increased 2.0% to US$896.2 million ..read more

BASF got off to a solid start in 2024. The company presented figures for the first quarter of 2024, on the day of the Annual Shareholders’ Meeting held in the Congress Center Rosengarten in Mannheim, Germany. For this event, BASF expects a similar attendance as in 2023 with around 5,000 shareholders and shareholder representatives. Sales in the first quarter of 2024 amounted to €17.6 billion, €2.4 billion below the figure of the prior-year quarter. This decline in sales was mainly driven by considerably reduced prices as a result of lower raw materials and energy prices in almost all ..read more

Matt Adby, Director, Regional Consumer Products & Materials, X-Rite, discusses how to conquer colour consistency challenges In architectural coatings, colour consistency isn’t just a matter of aesthetics; it’s a testament to quality and professionalism. The ability to precisely control colour ensures that a building’s exterior and interior maintain their intended look and feel, meeting the expectations of architects, designers and clients. Building material manufacturers are responsible for ensuring the colour remains consistent, no matter what interior or exterior colour palette is selec ..read more