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:
1. 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.
2. 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.
3. 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.
4. Berger Paints India Limited
Berger Paints India Limited is an Indian multinational paint company, was founded in 1923 and headquartered in Kolkata, West Bengal, India. It operates in 16 manufacturing units in India, 2 in Nepal, 1 each in Poland and Russia. In Feb 2022, Berger Paints India is delighted to announce that the VVN Plant has been awarded the Special Jury Award at the 9th Annual Gujarat State Level Quality Control Circle Competition 2022.
5. Nippon Paint Company Limited
Nippon Paint Company Limited is a Japanese paint and paint products manufacturing company. It was founded in 1881 and headquartered in Osaka, Japan. It operates in China, Japan, Malaysia, South Korea, Turkey, the US, Singapore, Thailand and the UK. In May 2023, Nippon Paint Marine is moving some of its coatings production to Vietnam because the market for its marine coatings is growing. This is because the Vietnamese government has been putting money into the country's shipbuilding industry.
6. Kansai Paint Company Limited
Kansai Paint Company Limited is a chemical company whose main products are automotive, industrial and decorative coatings. It was founded in 1918 and headquartered in Osaka, Japan. It operates in over 43 countries across the world. In Nov 2022, Kansai Paint eyes developments in Europe.
7. PPG Industries Inc.
PPG Industries Inc. is an American Fortune 500 company and global supplier of paints, coatings, and specialty materials. . It was founded in 1883 and headquartered in Pennsylvania, U.S. It operates in nearly 70 countries around the world. In April 2023, for its advanced coatings solutions created to assist automotive original equipment manufacturers (OEM), tier suppliers, and industrial customers lessen the time, cost, risk, and environmental impact associated with cleaning paint shop equipment, PPG announced a new name, PPG OPTIGUARDTM series (formerly LineGuard). With the new name, the offering is in line with the extensive PPG OPTIMA SOLUTIONSTM line of goods and services.
8. Williams-Hayward Protective Coatings Inc.
Williams-Hayward Protective Coatings Inc. was founded in 1920 and headquartered in Summit, Illinois. It operates in three manufacturing facilities in the U.S. and international headquarters in Poland.
9. Tikkurila Oyj
Tikkurila Oyj is a Finnish manufacturer of paints and lacquers, was founded in 1862 and headquartered in Vantaa, Finland. It operates in more than 75 countries.
10. The Valspar Corporation
The Valspar Corporation is an American manufacturer of paint and coatings It was founded in 1806 and headquartered in Minneapolis, Minnesota. It operates in 26 countries.
Definition: Water is used to emulsify the binder, pigments, and additives in water-borne coatings. Films are created using single-component emulsion coatings and solvent evaporation. The binder in this kind of coating is commonly composed of copolymers of acrylic, vinyl, and styrene compounds.
