BASF recently received the 2013 Product Line Strategy Leadership Award from Frost & Sullivan based on a recent analysis of the European resins for protective coatings market. The award recognizes the extent to which the product line meets customer base demands, the overall impact it has in terms of customer value as well as increased market share.
BASF’s strategic acquisitions improved its coating raw materials portfolio and gave it access to many important technologies. “Due to our combined know-how in the field of resins, pigments and additives, we are able to support our customers in formulation and processes,” said Ulf Neidlein, vice president, Business Management Resins & Additives, Europe. “This allows us to be seen as a provider of complete coatings solutions rather than pure raw-material chemistry.”
BASF’s current approach to product portfolio development is based on market trends. “The market continues to shift away from using high-solvent coatings, and BASF is leading this conversion by replacing alkyds with acrylic dispersions,” said Frost & Sullivan Industry Analyst Roland Heinze. “The company also looks to replace other conventional technechnologies to the greatest extent possible with more sustainable ones in order to grow faster than the market.”
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development.