BASF has won the 2013 Product Line Strategy Leadership Award of Frost & Sullivan for its coatings raw material portfolio. The international consultancy said the Ludwigshafen, Germany-based group - world's largest chemical producer - "has demonstrated strong growth by improving portfolio breadth, formulation expertise and customer value to enhance brand recognition while at the same time restructuring to enhance R&D and project management."

Frost & Sullivan added that BASF's strategic acquisitions have "dramatically improved" its coatings raw materials portfolio and allowed it to position itself as a provider of complete coatings solutions rather than pure raw-material chemistry. Although the German player's rivals offer a broad range of products, they do not provide equivalent formulation expertise and also lack a presence in the downstream market, the consultants said.

Noting also that the market "continues to shift away from using high-solvent coatings," Frost & Sullivan industry analyst Roland Heinze said BASF is leading the conversion by replacing alkyds with acrylic dispersions.

The group's coatings portfolio now includes polyurethane, acrylic, melamine and UV-convertible resins, along with light stabilizers, photo initiators, grinding resins, formulation additives and pigments.