Akzo Nobel expanded its coatings plant in Indonesia
In
a step to expand its paint and coatings business, Akzo Nobel expanded its plant
in Indonesia in order to meet growing demands for marine and protective
coatings products by the petrochemical and power sectors.
Indonesia: Akzo Nobel, which is the largest paints and coatings producer in the country, has finished stage one of Euro 2.5
million expansion of its coatings plant in Indonesia. The capacity at the
facility will increase by 40% after this investment thereby enabling the
company to fulfil domestic demands by petrochemical
and power sectors. According
to Mauricio Bannwart, managing director of Akzo
Nobel’s protective coatings business,
the company after investing in the expansion will improve its state as an
emerging market with the installation of state-of-the-art,
automated equipment at Cikarang, which in turn will improve sustainability
standards and product quality.
TechSci
Research depicts that the expansion plans of Akzo Nobel would
help the company in growing as a largest producer of paints and coatings in the
country. This would expand the company’s paints and coatings business. The country
having great maritime prospective has offered an opportunity to establish a robust shipbuilding industry,
thereby increasing the demand for marine and protective coating products.
According
to TechSci Research report “Global
Pigments Market By Type, By Application, Competition Forecast
and Opportunities, 2011 – 2021”, global pigments market size is estimated
to cross US$ 34 billion by 2021. Segment-wise, inorganic pigments dominated the
overall market in 2015, and this trend is anticipated to continue through 2021.
Inorganic pigments are widely used in paints & coatings and plastics to
provide various functional properties such as heat stabilization, antistatic,
flame-retardants, anti-block and UV stabilization.