Waterborne automobile coating products are the future of automotive coatings. All automotive paint manufacturers are working on this technology and have already realized the necessity and importance of waterborne products into both the OEM and refinished automotive coatings markets. The transition from solvent-based coatings, such as urethanes, to waterborne is quickly taking place in the automotive industry. Waterborne coatings use water as a solvent to dissolve a resin, thus making these automotive coatings eco-friendly and easy to apply. In most of the cases, waterborne automotive coatings contain more than 75% of water with small quantities of other solvents such as ethers. Waterborne automotive coating are known to be environment friendly and also possess good resistance to heat and abrasion. To use a waterborne coating, a spray equipment designed for waterborne coating is usually preferred.
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Global Waterborne Automotive Coatings Market: Drivers & Restraints:
Increasing demand for waterborne coatings owing to its ability to protect automobiles against UV radiation, acid rain and bad weather is expected to drive the global waterborne automotive coating market. Moreover, growing automotive production in Asia-Pacific coupled with rising middleclass income is anticipated to fuel market growth over the forecast period. Surging waterborne coatings demand on account of increasing accidents and aging of vehicles is expected to augment the market demand over the forecast period. Rising consumption of waterborne automotive coatings on account of their excellent chemical and physical properties such as low temperature processing, high chemical resistance and solvent free preparations is anticipated to drive automotive coatings demand. Waterborne automotive coatings are replacing solvent borne coatings owing to their cost advantage and other chemical properties. Moreover new investments by companies along with increasing number of production facilities is expected to further stimulate the global automotive waterborne automotive coatings market.
Global Waterborne Automotive Coatings Market: Segmentation:
On the basis of product type, the global waterborne automotive coatings market is segmented into
- Water-soluble paints
- Water-dispersible paints or colloidal coatings
- Emulsion/ latex paints
- Water based alkyds
On the basis of binders, the global waterborne automotive coatings market is segmented into
- Polyvinyl ethers
- Polyurethane resins
- Epoxy resins
- Alkyd resins
On the basis of end use, the global waterborne automotive coatings market is segmented into
- Passenger vehicle OEM
- Commercial vehicle OEM
- Commercial refinish
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Global Waterborne Automotive Coatings Market: Region-wise Outlook
In terms of geography, the global automotive exhaust systems market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. Asia-Pacific is dominant region and is expected to witness swift market growth at a steady CAGR due to increasing vehicle production particularly in India, China and Japan. Moreover increasing government expenditure on road maintenance is expected to further accelerate the growth for waterborne automotive coating market in Asia-Pacific region. North America and Western Europe are other attractive markets owing to its strict government regulation and environment safety norms.
Global Waterborne Automotive Coatings Market: Key Players
Transition to waterborne automotive coatings from solvent based coating has prompted automotive coating manufacturers to increase investment and production of new waterborne coated products. Global waterborne automotive coating market is dominated by key players which include BASF SE, Akzo Nobel NV, Du Pont Performance Coating, Kansai Paint, Arkema SA, Bayer AG and PPG Industries.