2023 ASI Top 20: Henkel GmbH &amp; Co. KGaA

Founded in 1876, Henkel is a multi-national chemical and consumer goods provider known for a range of consumer and industrial products, including adhesives, sealants, functional coatings, cosmetics, and household cleaning products. The company is organized in two business units: Adhesive Technologies and Consumer Brands. Henkel recorded revenue of approximately €22.4 billion in 2022. The Adhesive Technologies business accounted for 50% of that revenue with approximately €11.2 billion (approximately $12 billion) in sales for 2022, up 16.6% compared to 2021.

The Adhesive Technologies business unit serves various industries, such as automotive, electronics, packaging, aerospace, medical, building and construction, and general manufacturing. The business unit operates within three business areas: Mobility & Electronics, accounting for 33% of segment sales in 2022; Packaging & Consumer Goods, which represented 34% of segment sales in 2022; Craftsmen, Construction & Professional, accounting for 33% of segment sales in 2022.

Major brands platforms within the Henkel Adhesive Technologies portfolio include the Loctite, Technomelt, Bonderite, Teroson and Aquence brands for industrial products and Pritt, Loctite, Ceresit and Pattex for consumers and craftsmen.

Adhesive Technologies employs approximately 24,900 worldwide, representing 48% of Henkel’s total workforce. The business operated 124 global production sites in 2022 (down from 2021’s 131).

According to a company source, total R&D spend of the Adhesive Technologies business unit in 2022 was about €310 million, increasing by more than 3% compared to 2021. In 2023, the Adhesive Technologies business aims to expand its innovation capabilities on technology development for novel solutions and services that enable emission reduction and circularity.

NOTES: In 2022, Henkel officially inaugurated its new Inspiration Center Düsseldorf, the biggest single investment in the company’s history. The €130 million-plus building serves as an innovation center with more than 30 laboratories, as well as a global customer center. Also in 2022, Henkel inaugurated its novel Songdo plant in Korea, a sustainable state-of-the art facility for high-impact electronics solutions.

Henkel announced two acquisitions in its Adhesive Technologies business in 2022. In September 2022, Henkel completed the acquisition of the U.S.-based advanced materials start-up NBD Nanotechnologies Inc., Boston, Massachusetts and the acquisition of the Thermal Management Materials business of Nanoramic Laboratories (Nanoramic). NBD Technologies brings expertise in developing surface properties such as repellency for plastics or optical coatings for displays, strengthening Henkel’s position in the area of functional coatings. Also in September 2022, the company completed the acquisition of the Thermal Management Materials business of Nanoramic Laboratories Boston, Massachusetts, marketed under the brand Thermexit™ (Thermexit). That acquisition strengthens Henkel’s position in the growing markets for Thermal Interface Materials (TIM) by expanding its capabilities in high-performance segments.

Image courtesy of Henkel.