-- BASF showcases its multi-pronged success with a
variety of interactive components and its own line of
coatings
LONDON, Oct. 17, 2013 /PRNewswire/ -- Based on its recent
analysis of the European resins for protective coatings market,
Frost & Sullivan recognizes BASF with the 2013 Product Line
Strategy Leadership Award. The company has demonstrated strong
growth by improving portfolio breadth, formulation expertise, and
customer value to enhance its brand recognition. Simultaneously, it
has undergone restructuring to enhance R&D and project
management to align the company's strategies with future goals.
BASF's strategic acquisitions dramatically improved its coating
raw materials portfolio and gave it access to many important
technologies. This expanded portfolio has allowed the company to
market itself as a provider of complete coatings solutions instead
of just pure raw-material chemistry.
"The market continues to shift away from using high-solvent
coatings, and BASF is leading this conversion by replacing alkyds
with acrylic dispersions," said Frost & Sullivan Industry
Analyst Roland Heinze. "The company
also looks to replace other conventional technologies to the
greatest extent possible with similar competing and more
sustainable ones in order to grow faster than the market."
BASF's portfolio now includes polyurethane, acrylic, melamine,
and UV-curable resins, as well as light stabilizers, photo
initiators, grinding resins, formulation additives, and pigments,
all of which help the company fine tune product customization.
Although BASF's competitors offer a broad range of coating
resins, including epoxies, silicones, polyurethanes, and
water-based acrylic dispersions, they do not provide equivalent
formulation expertise in terms of combining resins, pigments, and
additives. These companies also lack a presence in the downstream
market, which BASF has successfully penetrated with its line of
environmentally-friendly Acronal® and Joncryl® product lines.
This extensive portfolio of coating raw materials translates to
a wide variety of applications including printing and packaging,
furniture and flooring, automotive, transportation, wind power,
pipelines, water treatment, agriculture and construction equipment,
and direct-to-metal applications and composites.
BASF's current approach to product portfolio development is
based on market trends, which has increased the company's brand
recognition and new sales opportunities. A continuous stream of
opportunities for new high-profile projects will continue to build
BASF's brand awareness and increase its market share in resins and
additives that are not only used in protective coatings, but also
in industries such as automotive, general industrial, furniture and
flooring, and printing and packaging.
"BASF's strategy is to focus on sustainability and work with
many companies to learn more about the entire spectrum of raw
materials," noted Heinze. "It employs in-house experts to make sure
that its additives are modified to function correctly, which, in
turn, enables the company to rapidly move up the market ladder as a
total solutions provider."
Each year, Frost & Sullivan presents this award to the
company that has developed a comprehensive product line that caters
to the breadth of the market it serves. The award recognizes the
extent to which the product line meets customer base demands, the
overall impact it has in terms of customer value as well as
increased market share.
Frost & Sullivan's Best Practices Awards recognize companies
in a variety of regional and global markets for demonstrating
outstanding achievement and superior performance in areas such as
leadership, technological innovation, customer service, and
strategic product development. Industry analysts compare market
participants and measure performance through in-depth interviews,
analysis, and extensive secondary research in order to identify
best practices in the industry.
About BASF
BASF is the world's leading chemical company: The Chemical
Company. Its portfolio ranges from chemicals, plastics, performance
products and crop protection products to oil and gas. We combine
economic success with environmental protection and social
responsibility. Through science and innovation, we enable our
customers in nearly every industry to meet the current and future
needs of society. Our products and solutions contribute to
conserving resources, ensuring nutrition and improving quality of
life. We have summed up this contribution in our corporate purpose:
We create chemistry for a sustainable future. BASF had sales of
€72.1 billion in 2012 and more than 110,000 employees as of the end
of the year. BASF shares are traded on the stock exchanges in
Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is
available on the Internet at www.basf.com.
Follow BASF on Facebook, Google+, Twitter, YouTube, Flickr,
Slideshare and LinkedIn
Contact:
Philipp
Schnorbus
Philipp.schnorbus@basf.com, Phone: +49(0)621 60-49277
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