Waterborne Automotive Coatings Market

Waterborne Automotive Coatings Market Segmented by
Trends, Outlook, and Opportunity Analysis Till 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 80Mr. S% 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 Mr. Swill 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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Description: Waterborne Automobile Coatings Market report categorizes global market by product type, and resin - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025

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