I vaguely remember trying to paint one of my Matchbox cars with watercolor paints when I was maybe 4 or 5; that didn't go over so well. But now Auto Air Colors has introduced a wide range of water-based color coats for automotive use. Water-based coatings aren't necessarily anything new; most of us have experience with latex house paint. Water-based automotive coatings are much more rare for obvious reasons, and especially so in the aftermarket where quality is everything. AAC uses the same pigments that one would find in urethane solvent-based paints, but employs a water carrier and depends on mechanical means to bond the pigments to the underlying surface, as opposed to a chemical bond. This brings with it many advantages to a painter beyond the obvious environmental benefits, allowing for less material waste, less senstivity to recoat times, and even faster curing times in a climate-controlled environment. Cool stuff, for sure.
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