Hempel’s Market Growth Draws Honor
WEDNESDAY, SEPTEMBER 4, 2013
Global coatings supplier Hempel has been recognized for overcoming a struggling economy and promoting market leadership in the protective and marine coatings market.
The 2013 North American Protective and Marine Coatings Growth Excellence Leadership Award is presented by Frost & Sullivan, a global leader research organization, to a company that has demonstrated excellence in capturing the highest compound annual growth rate for the past three years.
Hempel had double-digit revenue growth exceeding 20 percent in 2012 and a 9.5 percent increased market share in North America. According to Frost & Sullivan, competitors saw revenue growth rates that were more closely aligned with the base year total market growth rate of 2.1 percent.
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| Photos: Hempel |
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Hempel received the 2013 North American Protective and Marine Coatings Growth Excellence Leadership Award, presented by Frost & Sullivan, for double-digit revenue growth and focused coatings technology offerings. |
The award is part of Frost & Sullivan's Best Practices Awards, which recognize companies in a variety of regional and global markets for "demonstrating outstanding achievement and superior performance" in leadership, technological innovation, customer service, strategic product development, and other areas.
A Successful Acquisition
By acquiring Blome International in 2012, Hempel complemented its existing product lines, particularly in the oil and gas industry, and became more aggressive in growing its market share, Frost & Sullivan noted.
"The acquisition has been largely successful because of Hempel's ability to increase its sales volume in a number of other industries that Blome International served and in which Hempel lacked a focus, such as pulp and paper, mining, water treatment, and food and beverage," Roland Heinze, Frost & Sullivan's industry analyst, said in a statement.
"In order to promote the strengths of its acquisition, Hempel launched its 'Unbeatable Match' marketing campaign, which has been well-received by new and existing customers," Heinze added.
'Unique' Offerings
The award announcement cited the "unique characteristics" of Hempel's total technology offering, including silicones in marine coatings and polysiloxane in protective coatings, plus services such as SeaTrend, an onboard software reporting tool for marine applications that provides operational data and improves fuel savings and overall efficiency.
With brands like Hempasil and Hempaxane, Hempel has strengthened its existing product lines, instead of expanding into other coating segments that are not the company's main focus, according to Frost & Sullivan. Additionally, one of the company's main goals is to double its global protective business, with an emphasis on North America.
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Hempel was acknowledged for strengthening its existing product lines in North America and offering customized solutions for customers, according to Frost & Sullivan. |
Hempel was also acknowledged for its field-service representatives, who develop customized solutions for customers, allowing end users to observe the newest technologies in the industry's harsh environments.
"Externally, the company has built brand recognition by working on high-profile projects and improving product breadth, application expertise, and customer satisfaction. Internally, the company has structured itself to increase research and development, supply-chain efficiency, and sales opportunities in order to align its current strategy with future goals," Heinze said.
Malcolm Kerr, Hempel's North America Sales Director, said, "I would like to thank our customers, for they have trusted us to protect their assets. This award is recognition that the execution of our One Hempel-One Ambition strategy is effective in the market place. It is a result of our dedicated staff across the organization remaining committed and focused on ensuring our customers are satisfied."
About the Companies
Frost & Sullivan, which calls itself "the Growth Partnership Company," collaborates with clients to address global challenges and related growth opportunities. The company provides growth consulting, technology research, market research, economic research, corporate best practices, training, customer research and more.
Headquartered in Kongens Lyngby, Denmark, Hempel is a global coatings supplier for the decorative, protective, marine, container and yacht markets. The company also focuses on research and development, advanced production techniques and professional coating advice.
Tagged categories: Awards and honors; Coating Materials; Hempel; Marine Coatings; Oil and Gas
