Akzo Nobel Acquires 100% Stake in Egypt's Akzo Nobel Powder Coatings

Egypt: Akzo Nobel, a Dutch based decorative paints, specialty chemicals and performance coatings manufacturer, has acquired 100% ownership in Egypt based powder coatings manufacturer, that is, Akzo Nobel Powder Coatings SAE. Previously, Akzo Nobel controlled 60% stake in the Akzo Nobel Powder Coatings SAE. However, post the acquisition, Akzo Nobel would acquire 100% stake in the company. In addition to governing the powder coatings manufacturing plant in Cairo, Akzo Nobel Powder Coatings SAE also controls 9% stake in Akzo Nobel Powder Coatings Trading SAE. The acquisition of Akzo Nobel Powder Coatings SAE forms a part of Akzo Nobel’s growth strategy in Egypt and North Africa region.

TechSci Research depicts that the acquisition of Akzo Nobel Powder Coatings SAE by Akzo Nobel would strengthen the position of the company in the global powder coatings market, which is projected to exhibit robust growth at around 6.8% in value terms. Expanding powder coatings market is projected to aid the growth of global pigments market through 2021.

According to recently published TechSci Research report, “Global Pigments Market By Type, By Application, Competition Forecast and Opportunities, 2011 – 2021”, global pigments market size is estimated to cross USD34 billion by 2021. Growth in the market is anticipated on account of continuously increasing demand from major end use industries, such as paints & coatings, printing inks, construction, automotive, etc. Global paints & coating industry stood at around USD122.5 billion in 2011, and is anticipated to reach to USD168.5 billion by 2017, thereby portraying a positive outlook for the global pigments market. In addition to coloring applications, pigments are also used in huge quantities in non-coloring applications. For instance, iron oxide pigments are used in lithium-ion batteries for the production of cathodes.