Water is used as a solvent in waterborne coatings or finishes to distribute more resin. These coatings are easy to apply and have a high water content, making them environmentally friendly. Water makes up up to 80% of waterborne coatings, with additional solvents like glycol ethers present in trace amounts. A aqueous base coat contains 70% water (and 20% solids) and 10% solvent, compared to conventional coatings' about 84% (and 16% solids) VOC solvent concentration. Waterborne coatings have a number of advantages, including reduced flammability and toxicity due to low HAP emissions and VOC concentrations, durability to heat and abrasion, superior adhesion, and superior adhesion. Due to the lack of thinners, additives, or hardeners, as well as the fact that less coating is needed to cover the same surface area, these coatings are less expensive than solvent-borne coatings. These substances are used on the hoods, bumpers, and other interior and exterior auto parts.
Due to strict VOC limits, waterborne automotive compounds have gained in favor. Asia-Pacific is anticipated to see comparatively strong value growth throughout the course of the forecast period. This is mostly due to the automobile sector's predicted growth, especially in developing nations like China and India. The main market driver in the future will be the rising demand for environmentally friendly materials. The aqueous vehicle coating market is rising, particularly in Asia-Pacific and the Middle East, thanks to the constantly growing automotive sector. The development of new products and global expansion are major strategies used by the top rivals in the market for Waterborne Automobile Coatings.
Major Players in the Waterborne Automobile Coatings Industry:
Akzo Nobel N.V.
Akzo Nobel N.V is a Dutch multinational company which creates paints and performance coatings for both industry and consumers worldwide. It was founded in 1994 and headquartered in Amsterdam. Netherlands. It operates in more than 150 countries. In June 2023, AkzoNobel has been granted permission to supply its water-based refinish products to Porsche China, one of the premium automaker's largest markets at present.
BASF SE
BASF SE is a European multinational company and the largest chemical producer in the world. It was founded in 1865 and headquartered in
Ludwigshafen, Germany. It operates in more than 80 countries. In September 2020, the Coatings business of BASF, which invented aqueous coatings for the automotive sector, now offers its newest, most cutting-edge refinish product range.
Axalta Coating Systems
Axalta Coating Systems develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. It was founded in 1866 and headquartered in Pennsylvania, USA. It operates in 130 countries. In June 2023, Axalta Coating Systems (NYSE: AXTA), a major coatings company around the world, stated that Techno Blue will be the Global Automotive Color of the Year for 2023. This is the ninth year that the company has shown a color that is popular. "Powered by Color," Axalta's 2022 Automotive Color Trends report, shows how this year's choices were influenced by generational trends, changes in reality, and a positive attitude.