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Axalta gets best practices recognition from Frost & Sullivan

Tuesday, March 13, 2018 - 07:00
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Axalta Coating Systems has been awarded Frost & Sullivan 2017 Global Automotive Refinish Coatings Market Leadership award.

Patricia Morschel, Axalta's North America Refinish Director, accepts the award from Frost & Sullivan

Axalta Coating Systems is the most prominent company in the automotive global refinish coatings market, with a revenue share of 28.3 percent. The company manufactures automotive refinish coatings under its world-renowned Cromax, Spies Hecker and Standox brands. Axalta's refinish business accounts for approximately 43 percent of its total revenue, powered by its global production capacity, which is the largest for refinish coatings among its competitors.

It recently launched a Master Refinish Certification program as part of its learning and development offering in North America. This program provides refinish customers with the opportunity to advance their skills from Axalta's own industry standard experts.

With its impressive experience in the market, and growth strategies, Frost & Sullivan is proud to bestow the 2017 Market Leadership Award to Axalta Coating Systems.

Frost & Sullivan is a leading 57-year-old market research and consulting firm that traacks multiple industries including automotive, healthcare, information and communication technology and more.

The Frost & Sullivan Best Practices Awards have recognized exemplary achievements within a multitude of industries and functional disciplines for the last 18 years. Frost & Sullivan conducts best practices research to properly identify unmatched innovation and leadership among companies, products, processes and executives.

Receiving the Frost & Sullivan Market Leadership Award is a compelling third-party validation of a company's growth strategy and execution. Axalta Coating Systems Best Practices Award is a strong indicator to employees, investors, customers and the public that Axalta Coating Systems has superior solutions that have enabled it to garner more market share in the automotive refinish coatings industry.

To receive the Frost & Sullivan Market Leadership Award, an organization must strive to be best in class in three key areas: understanding demand, nuturing the brand and differentiating from the competition.

Ultimately, growth in any organization depends upon customers purchasing from a company and then making the decision to return. Loyal customers become brand advocates; brand advocates recruit new customers; the company grows; and then it attains market leadership.

Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree view of industry challenges, trends, and issues by integrating all seven of Frost & Sullivan's research methodologies. Too often companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission.

Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360-degree research methodology provides an evaluation platform for benchmarking industry players and for identifying those performing at best-in-class levels.

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