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Thanks all for the replies. It seems closer to water-color paint, based on how easily it comes off with brake cleaner. I wonder why they painted it?
It could be because of the welds from the end tanks and the miss matched colour from the core ect didn't look neat so they painted it from factory to make it look neat.
I have 2 stock intercoolers, both of them are painted - green primer (probably powder coat) and silver finish. The silver top coat isn't powdercoat for sure as the paint remover easily damages it. I found it hard way and had to respray...
The green layer would be self etching primer which is used for aluminum. You can't just paint aluminum without using a self etching primer or it will not last.
While I was working on a new laptop today I remembered a debate going on a while ago about whether painting the radiator and/or intercooler could improve heat transfer. I've worked on laptops for years and have never seen the integrated heat sinks (with connected heat sinks over the processor and GPU and cooling fins) painted before, but now HP is painting them. These aren't just static heat dissipation areas - there is airflow over them from the fan. This has me really interested in whether the right coating could make a significant difference. Apparently HP thinks so, and apparently this is a very new thing. Do a Google search for "Integrated heat sink laptop" and look at the images page. You will not find a single image on file with painted metal parts.
Integrated heat sink on a late-model HP EliteBook laptop. Note that is is painted black.
Typical integrated heat sink from a laptop. Not painted.