7. BASF Coatings

Münster, Germany (global headquarters)

Southfield, MI (North American headquarters)

President: Uta Holzenkamp

www.basf-coatings.com

2024 Coatings Sales: $4.46 billion (€4.28 billion)

The Coatings division of BASF is a global supplier of innovative and sustainable automotive OEM and refinish coatings, decorative paints, and applied surface treatments for metal, plastic and glass substrates. It also offers “Beyond Paint Solutions,” enabling novel surface functionalities. The division operates a global network across Europe, North America, South America and Asia Pacific.

In 2024, BASF's Coatings division reported sales of €4.28 billion, a decrease of 2.4% from €4.39 billion in 2023. Coatings sales declined slightly despite pricing improvements. Surface treatments and decorative coatings showed resilience, while automotive OEM coatings volumes dipped. Currency fluctuations in key emerging markets — particularly Argentina, Brazil and Turkey — had a notable negative impact on overall Coatings division sales.

The Coatings division is part of BASF’s Surface Technologies segment, which produces chemical solutions for surfaces such as automotive coatings, battery materials and catalysts. In 2024, Surface Technologies accounted for 19.8% of BASF Group sales. The segment recorded €313 million in R&D expenses and €560 million in investments including acquisitions.

As of January 1, 2025, BASF implemented a structural reorganization. The Battery Materials and Environmental Catalyst and Metal Solutions businesses, previously part of the Catalysts division, are now reported as independent operating divisions within the Surface Technologies segment. The chemical and refining catalyst businesses were reallocated to the Performance Chemicals division within Industrial Solutions.

Parent company: BASF

Notes: In January 2024, BASF and Envision Energy entered a collaboration to advance battery materials for EVs, and BASF and Stena Recycling partnered to recycle EV batteries in Europe.

In February 2024, BASF Coatings signed a global partnership agreement with INEOS Automotive.

In April 2024, Vattenfall and BASF signed a purchase agreement for offshore wind power, and BASF named Dr. Markus Kamieth as its new CEO. The company also celebrated a 10-year collaboration with the University of California, Berkeley.

In July 2024, the company’s antiglare film was adopted for Panasonic luminaires and the company announced that a broad range of acrylics, alcohols, glycol ethers, and acetates are now available with different sustainability attributes.

In August 2024, the company officially inaugurated its new Application and Technical Center in Jiangmen, China. In the same month, BASF converted its ethyl acrylate product line to bio-based feedstock using mass balance, and selected a new distribution channel partner for its floor care coatings business. BASF also opened a new production line for water-based coatings at its Jiangmen site in China.

In September 2024, BASF’s sustainable automotive refinish coatings were showcased at WorldSkills Lyon 2024. The company also inaugurated a new plant for alkyl ethanolamines in Germany. Also in September 2024, Markus Dinslacken assumed a   new position at BASF’s Coatings division as managing director at BASF Coatings GmbH. The company also announced a strategic review of its Coatings division as part of a broader corporate overhaul. The company is exploring options for the entire business — including a potential full sale or joint venture — amid strong market interest from strategic buyers and private equity. It also announced plans to divest its decorative paints business in Brazil, a transaction that was completed in February 2025.

In October 2024, BASF revealed its 2025 Automotive Color of the Year, "Routing." This collection reflects how our communication is shaped in the digital age, capturing the dynamic and ever-evolving nature of technology and human interaction. The company also won a Red Dot Award for its automotive coating design concepts.

In November 2024, the company partnered with Vulcan Energy to explore geothermal energy at its Ludwigshafen site. Also, the Carbon Trust verified the reduced carbon footprint of four BASF intermediates, and BASF and 3M announced a collaboration to enhance materials and processes in the collision repair industry.

In December 2024, BASF opened a cutting-edge Catalyst Development Center, and the company expanded ammonium chloride production in Ludwigshafen, Germany.

Source: Annual Report, press releases