Axalta Coating Systems Ltd. (NYSE: AXTA)

Axalta Coating Systems Ltd. is a leading global manufacturer, marketer, and distributor of high-performance coatings systems and products. The company operates in the coatings industry, providing innovative solutions designed to enhance the performance, appearance, and sustainability attributes of customers' products while improving their productivity and profitability. With a heritage spanning over 150 years, Axalta has established itself as a key player in the industry, known for manufacturing high-quality products supported by market-leading technology and customer service.

Axalta generates revenue through the sale of its diverse portfolio of coatings products, which cater to various end-markets. The company's primary products include liquid and powder coatings, color matching technologies, and related services. These products are used in a wide range of applications, from automotive refinish to industrial manufacturing. Axalta's customer base is equally diverse, encompassing large regional and global customers, as well as a fragmented and local customer base. The company serves customers in more than 140 countries, with a significant presence in the Americas, Europe, Middle East, Africa, and Asia Pacific regions.

• Performance Coatings: This segment provides high-quality sustainable liquid and powder coating solutions to both large regional and global customers and to a fragmented and local customer base. The end-markets within this segment are refinish and industrial. Key brands include Cromax, Standox, Spies Hecker, Syrox, and Raptor for refinish coatings, and Imron Industrial, Tufcote Industrial, Corlar Industrial, Strenex Industrial, PercoTop, Voltatex, AquaEC, Durapon70, Ceranamel, UNRIVALED, Zenamel, and Cerulean for industrial coatings. The segment caters to independent or multi-shop operator body shops, industrial manufacturers, and other diversified applications.

• Mobility Coatings: This segment focuses on providing coatings technologies for light vehicle and commercial vehicle original equipment manufacturers (OEMs). The end-markets within this segment are light vehicle and commercial vehicle. Key brands include Imron, Imron Elite, Centari, Rival, Corlar epoxy undercoats, and AquaEC. The segment caters to global OEMs facing evolving megatrends in electrification, sustainability, personalization, and autonomous driving.

Axalta holds a strong position within the coatings industry, competing against large multi-national suppliers such as AkzoNobel, BASF, and PPG, as well as regional and local players. The company's competitive advantages include its extensive technology portfolio, strong local presence, and customer relationships. Axalta's ability to provide global product specifications, standardized color development, compatibility with various substrates, and environmentally responsible coatings solutions sets it apart from competitors. Additionally, the company's focus on innovation and technical support further strengthens its market position.

Axalta serves a broad range of customers, including nine of the top ten global automotive manufacturers. The company's top ten customers accounted for approximately 17% of its Performance Coatings net sales and 61% of its Mobility Coatings net sales during the year ended December 31, 2025. The customer base includes independent body shops, multi-shop operators, OEM dealership body shops, and industrial manufacturers. Axalta's diverse global footprint allows it to meet the needs of its customer base through an extensive sales force and technical support organization, as well as independent, locally-based distributors. The company's scale and strong local presence are critical to its success, enabling it to leverage its technology portfolio and customer relationships globally while meeting customer demands locally.