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Waterborne Automobile Coatings

Waterborne Automobile Coatings Market report categorizes global market by product type, and resin - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018–2026
Waterborne Automobile Coatings Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis, 2018–2026
Waterborne coatings are surface coatings or finishes that make use of water as a
solvent to disperse the resin added to it. The high content of water makes these
coatings eco-friendly and easy to apply. Generally, waterborne coatings comprise up
to 80% water along with small amounts of other solvents, such as glycol ethers.
Conventional coatings have VOC solvent content of about 84% (and 16% solids),
while a waterborne base-coat comprises of 70% water (and 20% solids) and 10%
solvent. Stringent regulations on the use of VOC have driven the growth of
waterborne automotive coatings. The California Air Resources Board (ARB)
approved a suggested controller extent for automotive coatings in October 2005. The
purpose of the supply chain management (SCM) is to increase enforceability and
consistency among air district rules and to accomplish VOC emissions reductions,
which started in 2009.
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Waterborne coatings offer various advantages such as good resistance to abrasion
and heat, excellent adhesion properties, low flammability and toxicity due to low HAP
emissions and VOC levels. These coatings are more economical as compared to
solvent-borne coatings, do not require thinners, additives or hardeners, and require
less coating to cover the same surface area as compared to solvent-borne coatings.
These coatings are used to cover the internal as well as external parts of an
automobile including hoods, bumpers, etc.
Water-soluble paints consist of water-soluble resins that completely dissolve in
water. The resins used are synthesized by polymerization or polycondensation
reactions in an organic medium. The resins used for manufacturing such type of
coatings are alkyds, polyacrylates, polyesters, epoxies and epoxy esters. These
paints offer high gloss, excellent corrosion protection, and stabilization. Water based
alkyds have versatile applications as they can be diluted with water to any viscosity.
These alkyd coatings can be applied with dip or spray applications.
Waterborne Automobile Coatings Market Outlook – rising demand for
eco-friendly materials to be the Major Market Driver
Asia Pacific and North America are expected to be the most potential markets for
Waterborne Automobile Coating manufacturers. Asia Pacific is projected to witness
relatively high growth in terms of value over the forecast period. This is mainly
attributed to the anticipated growth in automotive industry, especially in emerging
economies such as China and India. India Brand Equity Foundation (IBEF) is a Trust
established by the Ministry of Commerce and Industry, Department of Commerce in
collaboration with the Government of India with the purpose of promoting and
creating international awareness of goods manufactured in India. IBEF estimates
that the Indian automotive industry is expected to generate US$ 300 billion over the
forecast period. Rapidly increasing automotive industry is driving the growth of
waterborne automobile coating market, especially in Asia Pacific and the Middle East
regions. Product launch and expansion in various geographies is a key strategy
adopted by the major players in the Waterborne Automobile Coating market. In June
2017, BASF Corporation expanded invested US$ 40 Million in the production of
automotive coatings production in North America. This investment will add
production capacity to the company’s plants in Ohio, Greenville, and Tultitlan,
Mexico. This will also support the company’s innovation of products. Some of the
major companies operating in the global waterborne automobile coating market
include Akzo Nobel N.V., BASF SE, Axalta Coating Systems, Berger Paints India
Limited, Nippon Paint Company Limited, Kansai Paint Company Limited, PPG
Industries Inc., Williams-Hayward Protective Coatings Inc., Tikkurila Oyj, The Valspar
Corporation, RPM International Inc., and The Sherwin Williams Company.
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