Waterborne Automobile Coatings to Garner Significant Demand amid Growing Focus on Sustainable Coating Solutions
Waterborne Automobile Coatings Market The Waterborne Automobile Coatings Market is estimated to be valued at US$ 18,040.5 Mn in 2022 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023-2030 , as highlighted in a new report published by Coherent Market Insights. Market Overview: Waterborne automobile coatings provide protection and finish to vehicle bodies. They are typically used to coat exterior and interior auto parts and components. Market Dynamics: Increasing stringency of environmental regulations regarding VOC emissions is expected to drive the growth of the market over the forecast period. Various countries and regions across the globe have imposed strict regulations regarding the amount of VOC allowed in automobile coatings. For instance, REACH in the European Union has limited the VOC content in automobile coatings to 250 grams per liter. This is compelling coatings manufacturers to focus on developing lower VOC and environment-friendly waterborne coating...