Water-based car paints are the future of car paints. All automotive paint manufacturers are working on this technology and have already recognized the need and importance of water-based products for both the OEM and post-paint automotive paint markets. The transition from solvent-based paints, such as urethanes, to water-based paints is happening rapidly in the automotive industry. Water-based paints use water as a solvent to dissolve a resin, making these car paints environmentally friendly and easy to apply. In most cases Water-based vehicle paints contain more than 75% water with small amounts of other solvents such as ether. Water-based automotive paints are known to be environmentally friendly and also have good resistance to heat and abrasion. In order to use a water-based coating, spray equipment designed for water-based coating is normally preferred.
Global demand for waterborne automotive coatings is projected to reach US$79 billion in 2022 and grow at a CAGR of 6% to US$141.5 billion from 2022 to 2032.
|Estimated base year value (2021)||$77 billion|
|Expected market value (2022)||$79 billion|
|Expected forecast value (2032)||$141.5 billion|
|Projected growth rate (2022-2032)||6% CAGR|
Global Waterborne Automotive Coatings Market: Drivers and Constraints:
The increasing demand for waterborne paints due to their ability to protect cars from UV rays, acid rain and inclement weather is expected to drive the global waterborne automotive paints market. Furthermore, growing automobile production in Asia-Pacific coupled with rising middle-class incomes are expected to boost market growth over the forecast period. The increasing demand for water-based coatings due to increasing accidents and aging of vehicles is expected to increase the market demand over the forecast period. Increasing consumption of aqueous car paints due to their excellent…