COMPANY PROFILE / FUNCTIONAL MATERIALS
AkzoNobel
Functional coatings concentrate in ships, fire protection, powders and aerospace, and 2026 finds the company in the middle of a merger with Axalta
AkzoNobel is best known for decorative paint (Dulux), but this profile is limited to functional coatings. The company’s 2025 report says its performance coatings are engineered for functions such as corrosion control, fouling control, anti-scratch properties and passive fire protection. What can be confirmed is a biocide-free coating that reduces fouling on ship hulls, passive fire protection coatings for oil and gas assets, a radiative-cooling “sunscreen” coating system launched in China and a powder coating that protects electric-vehicle battery plates. Meanwhile, the merger with Axalta, approved by shareholders in August 2026, would change the shape of the company itself once it completes.
- AkzoNobel in 30 seconds, and where it stands in functional materials
- The logo and how the name is written
- Where the company sits in functional materials
- Scale
- Resources committed to functional materials
- What it has done so far
- What comes next
- What the company is aiming for in functional materials
- Map of functional-materials partnerships
- Technologies, products and services
- The risks this company carries
- Glossary
- References
- Claim-to-source audit
1. AkzoNobel in 30 seconds, and where it stands in functional materials
Axalta Coating SystemsApproved by shareholders on 5 August 2026; completion expected late 2026 or early 2027
€50 millionWaukegan, Illinois, per the annual report
AkzoNobel’s report divides its performance coatings into four businesses, powder coatings, marine and protective coatings, automotive and specialty coatings, and industrial coatings, and says the products are engineered for functions such as corrosion control, fouling control, anti-scratch properties and passive fire protection Sourced. Sales of functional coatings alone are not disclosed, but revenue by business is, which makes it easier than with PPG to see which business accounts for how much. In 2026, however, the merger with Axalta is in progress and the shape of the combined business is not yet settled.
2. The logo and how the name is written
A note on naming: the legal name is Akzo Nobel N.V., and the brand is written AkzoNobel (no space). Marine and protective coatings are sold under the International brand (International Marine and International Protective Coatings), but these are all AkzoNobel products. Axalta Coating Systems Ltd., the merger partner, is a separate company and is not the subject of this article.
Company website: https://www.akzonobel.com/en3. Where the company sits in functional materials
AkzoNobel’s functions show up as properties of the coating film itself: resisting fouling, protecting against fire, shedding heat and lasting longer. It sells paint rather than devices such as windows or parts, which is where it differs from PPG. Our explainers on superhydrophobic, anti-icing and anti-fouling coatings and on thermal-management and radiative-cooling materials cover how these functions work.
4. Scale
Company-wide scale is kept brief Sourced.
| Indicator (company-wide, € million) | 2024 | 2025 |
|---|---|---|
| Revenue | 10,711 | 10,158 |
| Operating income | 917 | 1,164 |
| Research and development expenses (income statement) | 296 | 274 |
| Employees (FTE, year-end) | 34,600 | 31,500 |
| Performance Coatings revenue by business (€ million) | 2024 | 2025 | Change | Functions named in the report |
|---|---|---|---|---|
| Powder Coatings | 1,365 | 1,280 | -6% | Durability (superdurable grades), battery protection |
| Marine and Protective Coatings | 1,575 | 1,570 | 0% | Fouling control, passive fire protection, corrosion control |
| Automotive and Specialty Coatings | 1,434 | 1,347 | -6% | Includes aerospace coatings |
| Industrial Coatings | 2,036 | 1,871 | -8% | Heat resistance, chemical resistance, corrosion control |
| Total | 6,410 | 6,068 | -5% | – |
The revenues by business above are not sales of functional products alone. Marine and Protective Coatings, for example, also includes coatings without a special function. Revenue by product, for anti-fouling coatings such as Intersleek or fire-protection coatings such as Chartek, is not disclosed Not yet confirmed. This article does not estimate it.
5. Resources committed to functional materials
| Type of resource | What was confirmed | Status |
|---|---|---|
| People | About 2,700 R&D professionals worldwide, about 70 laboratories and about 2,300 patents and patent applications (company-wide; headcount for functional products alone is not disclosed) | Sourced |
| Money (R&D) | R&D expenses were €274 million in 2025 (income statement). The report cites €1.33 billion over the last five years. The amount for functional products alone is not disclosed | Sourced |
| Money (capital expenditure) | Capital expenditure was €309 million company-wide in 2025, and is guided to about €350 million for 2026. Individual projects are in the table below | Sourced / Not yet confirmed (2026) |
| Investments, acquisitions, joint ventures and disposals | Completed the sale of Akzo Nobel India Limited in 2025. Agreed an all-share merger with Axalta in November 2025 (approved by shareholders on 5 August 2026). A laser-curing partnership with IPG Photonics, a raw-material partnership with Arkema and BASF, and collaborations with NIO, Signify and Calosol | Sourced |
| Universities, research institutes and public funding | The report says Calosol, a heat-absorbing facade panel, was developed with the Dutch partners Emergo and TNO (TNO is the Netherlands Organisation for Applied Scientific Research; this is our own note). Public funding or grants were not found in the report | Sourced / Not confirmed |
Status of main products and facilities
| Product / facility | Location and scale | Stage | Date | Source |
|---|---|---|---|---|
| Upgrade of the largest aerospace coatings plant | Waukegan, Illinois. A two-phase €50 million project covering added capacity, new machinery and a new warehouse across the state line in Wisconsin | Under way (the report says it is “underway”). Completion timing and capacity figures could not be confirmed | 2025 report | Reference 1 |
| Start of Chartek (passive fire protection) production | The marine and protective site at Felling, UK. More than €15 million for filler modernisation and the start of Chartek production | Under way (start date could not be confirmed) | 2025 report | Reference 1 |
| Removing capacity constraints at North American powder plants | United States and Mexico. About €20 million | Under way (details could not be confirmed) | 2025 report | Reference 1 |
6. What it has done so far
| When | What happened | Why it matters |
|---|---|---|
| 1792 | Company origins (as stated in its press release) | A paint company more than 200 years old |
| 2025 | The Levis Pro brand launched a “sunscreen” coating system in China (a radiative-cooling topcoat over a thermal-radiation-barrier mid-coat) | A function that lowers building surface temperature (the company’s claim, based on internal testing) |
| 2025 | Chartek ONE passive fire protection launched in Europe, with patented technology and low VOC | Fire protection for energy-sector assets |
| 2025 | Became exclusive paint supplier for the Calosol heat-absorbing facade system in the Netherlands. Partnered with IPG Photonics on laser curing of powder coatings | A curing method that uses less energy and floor space (the company’s description) |
| 2025 | Co-developed a battery-plate powder coating with NIO and won the Altair Enlighten Award (Sustainable Product category) | The company claims it triples the life of battery-shielding coatings |
| 2025 | Completed the sale of Akzo Nobel India; started six site closures during the year | Narrowing of the portfolio and the manufacturing footprint |
| November 2025 | Agreed an all-share merger with Axalta | Enterprise value of the combined company of about US$25 billion (the company’s description) |
| 5 August 2026 | The Extraordinary General Meeting approved all merger-related resolutions (Axalta’s shareholders approved on the same day) | Completion still depends on regulatory approvals and other conditions |
7. What comes next
The report says the growth strategy targets investment in markets and segments where the company has differentiated positions: aerospace coatings, powder coatings, and marine and protective coatings Sourced. On the outlook, it says no meaningful recovery in end markets is anticipated and that the company is preparing to close the Axalta merger by the end of 2026 Not yet confirmed.
None of the following appears in the report or in official announcements Not yet confirmed.
Sales or volumes by product, such as Intersleek or Chartek; how functional-coating businesses will be reorganised after the merger (product names, plants, research sites); the start date of the new Chartek line; R&D spending and headcount for functional products alone.
8. What the company is aiming for in functional materials
The company sets out no strategy specific to functional products, so what follows is inference from published facts.
| What can be read from the record | Primary information behind it | Type |
|---|---|---|
| Functional products are concentrated in the three differentiated areas of the company’s growth strategy | The report names aerospace, powder, and marine and protective coatings as growth areas, and describes its performance coatings through functions such as corrosion control, fouling control, anti-scratch properties and passive fire protection | Sourced (the areas) / Inference (the concentration) |
| Functional claims are presented together with energy-saving and low-carbon value | Fouling control is described through fuel and CO2 savings, the sunscreen coating through building energy savings, and laser curing through lower curing energy | Inference |
| The merger is aimed at scale and complementary strengths in automotive and industrial rather than functional products | The merger rationale cites US$600 million of cost synergies, revenue synergies and EBITDA profitability in the region of 20%, and says nothing about functional products | Inference |
The benefits the company cites for the merger are US$600 million of cost synergies, revenue synergies, EBITDA profitability in the region of 20% and an “innovation engine” Sourced. We found no passage in the report’s merger description that names functional coatings (anti-fouling, fire protection, heat control) individually. Reading the merger as a move to strengthen functional businesses therefore lacks support, and the sound conclusion is that how functional products will be positioned after the merger is not known today Not yet confirmed.
9. Map of functional-materials partnerships
10. Technologies, products and services
The table lists the products that could be confirmed, with where each performance figure comes from. All are manufacturer’s stated values that this article did not verify. No comparison is made with other makers’ products; the figures for PPG’s anti-fouling coating, for instance, were obtained under different conditions and cannot be set beside these.
| Product | Function | Manufacturer’s stated value and conditions | Source |
|---|---|---|---|
| Intersleek 1100SR | Reduces fouling on ship hulls (biocide-free fouling-release coating) | Up to 9% fuel and CO2 savings compared with conventional anti-fouling coatings, and 1.2% speed loss over the docking cycle. Dry film thickness 150 to 200 µm, volume solids 72, VOC 240 g/L (EPA method). The product page describes it as a fluoropolymer foul-release coating and says over 6,400 ships have been coated with Intersleek technology in the last 20 years | Reference 4 |
| Chartek 1709 | Epoxy passive fire protection plus corrosion protection | Formulated around UL 1709 (a fire-resistance standard for hydrocarbon fires), described as usable for pool fires up to four hours, jet fires and vessel protection. Boron-free. The page says it has covered millions of square metres over 10 years | Reference 5 |
| Chartek ONE | Passive fire protection for energy assets | Launched in Europe in 2025. The company cites its latest patented technology, low VOC and faster application. No performance figures in the report | Reference 1 |
| “Sunscreen” coating system (Levis Pro, China) | Heat control for buildings (radiative-cooling topcoat plus thermal-radiation-barrier mid-coat) | The company claims it can lower a building’s surface temperature by up to 10% in hot summer months compared with a standard mid-coat and topcoat (validated by internal testing). The report does not define the baseline temperature or the test conditions | Reference 1 |
| Interpon A1000 (for NIO) | Powder coating that protects EV battery bottom plates | Said to triple the life of battery-shielding coatings compared with existing solutions (in support of NIO’s 15-year battery longevity ambition). No test conditions in the report | Reference 1 |
| Calosol (paint supply) | Coating for a heat-absorbing facade panel | The report says the special coating harnesses energy from the part of sunlight invisible to the human eye and can capture solar energy in daylight even when it rains. No performance figures | Reference 1 |
AkzoNobel’s functions divide at least into keeping the surface clean (Intersleek) and keeping the film intact in a fire (Chartek) Sourced. For the first, the point is to make organisms hard to attach to or easy to shed, so a smooth, thin and even film matters. The product page lists film thickness (150 to 200 µm) and volume solids because a film that is too thin shortens the anti-fouling life while one that is too thick raises the cost of application, a trade-off that shows up in the specification (our commentary).
Chartek is built around the UL 1709 standard, which concerns fire resistance in hydrocarbon fires. Passive fire protection films of this kind are generally explained as swelling when heated to form an insulating char layer that slows the temperature rise of the steel Not yet confirmed (this is our general commentary, not a statement in AkzoNobel’s materials). The product page speaks of long-term corrosion and fire protection in a single system, which shows that the same film must handle both substrate corrosion and fire as a design requirement.
The sunscreen coating aims at heat control with two layers: a topcoat that reflects sunlight and a mid-coat that resists heat transfer. The “up to 10%” claim is a number for which the report does not say what the 10% is measured against (degrees Celsius or a temperature difference), so its size cannot be compared with other heat-control coatings.
Intersleek’s “up to 9%” is a ceiling against conventional anti-fouling coatings that varies with the ship and how it is operated. Chartek is described as usable within the UL 1709 framework, which is not a guarantee of behaviour in an actual fire. All of these are manufacturer’s stated values, and generalisations such as “safe” or “completely prevents” cannot be drawn from them.
11. The risks this company carries
| Risk | What it is | Type |
|---|---|---|
| Completion and integration of the merger | Completion depends on regulatory approvals and other conditions, and is expected in late 2026 or early 2027. How product names, plants and research sites will change is unknown | Not yet confirmed |
| Weak demand | In 2025 industrial coatings organic sales fell 3% and powder coatings 1%. The company says it does not anticipate a meaningful recovery in end markets in 2026 | Sourced |
| Functional sales are invisible | Revenue and investment by product are not disclosed, so progress is hard to check from outside | Sourced |
| Performance figures rest on the company’s own claims | The figures for Intersleek, the sunscreen system and Interpon A1000 are the company’s claims; the sunscreen figure is from internal testing | Sourced |
| Site closures and reorganisation | Six site closures were started in 2025, and at Felling in the UK resin production stopped while Chartek production is starting. Effects on supply and quality during the transition are not described in the report | Sourced / Inference (the effects) |
12. Glossary
- Fouling-release coating
- A coating that lets organisms attached to a hull or similar surface be shed more easily as the ship moves. Different in approach from anti-fouling paint that uses biocides to prevent attachment.
- Passive fire protection (PFP)
- Delaying the temperature rise of steel in a fire through the heat resistance of a coating or covering itself. Distinct from active measures such as sprinklers.
- UL 1709
- A fire-test standard that assumes a hydrocarbon fire, such as a fire at an oil or gas facility.
- Radiative cooling
- The loss of heat by an object emitting infrared radiation to space. Research on applying it to roofs and walls through coatings is under way.
- Powder coating
- A coating applied as a dry powder and melted by heating into a film, without solvent. Valued for durability.
- Organic growth
- Growth in sales excluding the effects of currency, acquisitions and disposals.
- VOC
- Volatile organic compounds, such as solvents from paint that escape into the air.
- FTE
- Full-time equivalent headcount.
13. References
- AkzoNobel AkzoNobel Report 2025 (annual report for the year to 31 December 2025, published in ESEF format on the European filing site). Revenue, R&D spending, headcount, revenue by Performance Coatings business, capital expenditure, functional-coating products and partnerships, and the Axalta merger. https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml
- AkzoNobel AkzoNobel shareholders vote in favor of intended merger with Axalta (official press release on the Extraordinary General Meeting of 5 August 2026). https://www.akzonobel.com/en/media/media-releases/akzonobel-shareholders-vote-in-favor-of-intended-merger-with-axalta
- AkzoNobel Merger information (company website). The expected closing timing and a list of related documents. https://www.akzonobel.com/en/merger-information
- AkzoNobel (International Marine) Intersleek 1100SR (official product page). Specification and claims for a biocide-free fouling-release coating. https://www.international-marine.com/en/products/intersleek-1100sr
- AkzoNobel (International Protective Coatings) Chartek 1709 (official product page). An epoxy passive fire protection coating offered for the UL 1709 standard. https://www.international-pc.com/products/chartek-1709
14. Claim-to-source audit
| Claim in the text | Type | Source |
|---|---|---|
| Company name, 1792 origins, registered office, listing, 31,500 employees | Sourced | Reference 1 and 2 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml https://www.akzonobel.com/en/media/media-releases/akzonobel-shareholders-vote-in-favor-of-intended-merger-with-axalta |
| Revenue, operating income and R&D expenses (2024 and 2025) | Sourced | Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| Performance Coatings revenue by business (powder, marine and protective, automotive and specialty, industrial) | Sourced | Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| About 2,700 R&D professionals, about 70 laboratories, about 2,300 patents | Sourced | Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| Capital expenditure of €309 million in 2025 and about €350 million expected in 2026 | Sourced | Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| Waukegan €50 million, Felling more than €15 million, North American powder about €20 million | Sourced | Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| The Axalta merger agreement (November 2025) and shareholder approval on 5 August 2026 | Sourced | Reference 1 and 2 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml https://www.akzonobel.com/en/media/media-releases/akzonobel-shareholders-vote-in-favor-of-intended-merger-with-axalta |
| Merger completion expected in late 2026 or early 2027 | Not yet confirmed | Reference 3 https://www.akzonobel.com/en/merger-information |
| Intersleek 1100SR specification and claims (up to 9%, 1.2% speed loss, film thickness) | Sourced | Reference 4 https://www.international-marine.com/en/products/intersleek-1100sr |
| Chartek 1709 positioning (UL 1709, four hours, boron-free) | Sourced | Reference 5 https://www.international-pc.com/products/chartek-1709 |
| The description of UL 1709 as a fire-resistance test standard for hydrocarbon fires (glossary) | Our calculation | Our commentary; the product page says only “UL 1709 product offer” |
| Chartek ONE, the sunscreen coating, Interpon A1000 and Calosol descriptions | Sourced | Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| Relationships with IPG Photonics, Arkema and BASF, NIO and Signify | Sourced | Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| TNO being the Netherlands Organisation for Applied Scientific Research | Our calculation | Our own note (the report says only “Emergo and TNO”) |
| The four-type classification of companies (Fig. 1) | Our calculation | Our own grouping; company names are examples from those covered in this series |
| Sales by product (Intersleek, Chartek and others), and R&D spending and headcount for functional products alone | Not yet confirmed | None is disclosed; this article does not estimate them Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| Completion date of the new Chartek line, and the completion timing and capacity of Waukegan | Not yet confirmed | Not in the report Reference 1 https://filings.xbrl.org/724500XYIJUGXAA5QD70/2025-12-31/ESEF/NL/0/akzonobel-2025-12-31-1-en/reports/akzonobel-2025-12-31-1-en.xhtml |
| How functional-coating businesses will be reorganised after the merger | Not yet confirmed | Not found in official announcements Reference 2 https://www.akzonobel.com/en/media/media-releases/akzonobel-shareholders-vote-in-favor-of-intended-merger-with-axalta |
| Reading that functional products concentrate in three differentiated areas | Inference | This article’s interpretation of the growth-area statement and the product descriptions |
| Reading that functional claims are paired with environmental value | Inference | This article’s interpretation of how products and partnerships are described |
| Reading that the merger aims at scale and automotive/industrial complementarity, not functional products | Inference | This article’s interpretation of the absence of functional products in the merger rationale |
| The film-thickness trade-off for hull coatings and the general mechanism of passive fire protection | Not yet confirmed | Our commentary; not a statement in AkzoNobel’s materials |
| The risk of site closures and reorganisation | Inference | This article’s interpretation of the six closures and the Felling reorganisation |
Last updated 10 October 2026 / Troy Technical
Figures in this article come from AkzoNobel Report 2025 and from official AkzoNobel and International websites and press releases. No research-firm estimates or press-based figures have been used. Product performance values are manufacturer’s stated values and were not verified here. Passages marked “Inference” are this article’s interpretation of primary sources, not statements made by the company.