Mapei continues on the road to growth

The multinational strengthens its global position with €4.4 billion in turnover, €213 million in investments, and surpasses 100 production plants.

Mapei closed 2024 with a consolidated turnover of 4.4 billion euros, marking a 4.7% increase over the previous year. This result outperformed the global construction market, which grew by 2.3%, according to Global Data.

Without the exchange rate penalty, real growth at constant exchange rates would have been over 8%.  This positive trend has seen the leading Italian multinational in the construction chemicals sector continue to grow over the past five years, improving turnover by around 60% since 2020.

Led by the two CEOs, Veronica Squinzi and Marco Squinzi, the Mapei Group today confirms itself as a major global player in the sector with a presence in 59 countries  worldwide, employing over 13 thousand people, and operating through 98 subsidiaries, including those of other international brands such as Vinavil and Polyglass. The Group also boasts 106 production plants, each equipped with a quality control laboratory. Thanks to an innovation network of 38 research centres on the five continents and coordinated by the corporate centre in Milan, Mapei formulates and offers high-quality, durable and sustainable products and systems.

Last year "the Group recorded an increase in turnover in every geographical area in which it operates with double-digit growth in Latin America (+28.3%), and triple-digit growth in the Middle East (+130.3%), a rapidly expanding region where we are investing heavily," says Veronica Squinzi.

In terms of the Group’s geographical breakdown, Europe remains the largest contributor, accounting for 52% of global turnover in 2024, while North America's contribution of 31% remained stable.

"Our formula for achieving continuous and responsible growth is simple: seize external opportunities and, at the same time, continue to invest in our companies, factories and offices, to strengthen our production capacity and be close to our customers and large infrastructure projects", adds Marco Squinzi.

During 2024 Mapei invested over €213 million in tangible fixed assets, and inaugurated new plants in Portugal, the United Kingdom and Denmark, relocated the Olomouc (Czech Republic) site to a new, more modern facility, and opened its first office in Chile. 

The intention is to continue on this path. In the first quarter of 2025, the Group opened a new production plant in Egypt and inaugurated a new commercial office in Sicily (Catania), while the new site in Apulia (Modugno) will be fully operational from 2026.