For AkzoNobel, a Dutch multinational paints and coatings company, the potential to do strong business in China is significant as the country’s focus increasingly shifts toward quality enhancement and improved living experiences, executives said.
AkzoNobel sees a landscape ripe with opportunity in China, where current industry trends and government policies such as the “good housing” initiative are creating fertile ground for multinational corporations like itself, said Daniel Geiger Campos, AkzoNobel’s business director of global decorative paints.
“China’s good housing initiative, which prioritizes sustainability, safety, smart living and comfort, provides AkzoNobel with chances to cater to the nation’s burgeoning demand for enhanced living standards and sustainable solutions,” he said.
China included the concept of “good housing” in its Government Work Report this year for the first time, proposing adapting to the people’s need for high-quality living, improving standards and regulations, and promoting the construction of safe, comfortable, green, and smart good housing.
“China has been a pioneer within AkzoNobel in adopting bio-based ingredients, making our products more environmentally friendly. We are eager to contribute our expertise and solutions to support the development of good housing across China, helping to build homes that are not only beautiful, but also contribute to a healthier and more sustainable future for all,” Campos said.
According to AkzoNobel, three of its factories in China have been certified as national-level green factories, and it aims to continue to pursue this recognition for other sites.
Despite a more challenging business environment, Campos said AkzoNobel is confident and remains committed to the Chinese market.
“Our dedication to the Chinese market is long-term, and the company remains committed to continuously investing and growing throughout China, the world’s second-largest economy,” he said.
“We are confident that growth will accelerate in the future, and we are preparing now to succeed in that improved climate. By doing our homework today, we aim to emerge even stronger when the market rebounds.”
Campos said there is already growth in repainting, particularly premium interior repainting, as well as in color options within the premium segment, where the company holds competitive advantages.
Looking ahead, AkzoNobel’s key business priorities in China include developing industry benchmarks, continuing to invest in production capacity and strengthening China’s role as an innovation hub.
Driven by China’s resilience and ambitious goals, many multinational chemical corporations are committed to expanding their presence in the country, industry experts said.
The combination of a substantial industrial base, growing demand and a stable, improving economic landscape makes China an attractive destination for foreign investment and a crucial driver of global economic growth, said Lin Boqiang, head of the China Institute for Studies in Energy Policy at Xiamen University in Fujian province.
AkzoNobel recognizes the growing trend of renovation over new construction in China, emphasizing the importance of durable and high-quality paints.
Karen Yin, president of AkzoNobel China, emphasized the importance of collaboration with local partners, designers and industry associations to promote the application of high-quality paints and support the upgrade of housing standards.
“Today’s Chinese consumers increasingly rely on professional advice when purchasing paint or planning home decoration. Designers, in particular, play a growing role in shaping color choices and aesthetic trends,” Yin said.
“Renovation is becoming more common than new construction as the market evolves, which makes it essential that renovations are durable. This provides AkzoNobel with a significant opportunity to offer its innovative and long-lasting solutions to meet this growing demand.”
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