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The matting agents market is projected to register a CAGR of 4.4% during the forecast period in terms of value
The global matting agents market is projected to reach USD 579.9 million by 2022, at a CAGR of 4.4% from 2017 to 2022, in terms of value. The global matting agents market is witnessing growth on account of increasing applications, technological advancements, and increasing demand in the Asia-Pacific region, mainly from South East Asia, China, and India. The single most long term growth potential for matting agents in the architectural coatings segment is from rapid urbanization, increasing disposable incomes, and growing preference for matte finish among consumers. High VOC emissions in solvent-based technology and a comparitively higher film shrinkage time in other technologies is expected to hinder the growth of the matting agents market.
Demand for radiation cure and high solids technology is expected to witness significant growth over the next five years
The radiation cure systems are categorized in two groups, formulations which have organic solvents such as reactive diluents and formulations which are 100% solvent free. For formulations with solvents as diluents, matting properties depend on the property of the film. For formulations with 100% solvent free systems, in order to improve the matte finish, materials such as silica are treated with waxes and fillers, and thorough rechecks are done to get the desired matte finish. Environmental concerns are leading to matting agents manufacturers focusing on reducing the organic solvent content from paints and coatings formulations. High solid coatings contain low to zero organic volatile solvents. These coating systems are difficult to matt due to lower shrinkage and presence of high solid coarse particles and lack of the evaporation process due to the absence of solvents. However, to meet the required efficiency in matting, the particle size is matched with the dry film thickness.
Architectural applications represent the bulk of the demand for matting agents
Matting agents used in architectural coatings increase corrosion and temperature resistance, and antiglare properties in end products. Due to the growing popularity of the matte finish in both, developed and emerging nations coupled with growth in the construction industry are expected to drive the matting agents market in architectural coatings.
Asia-Pacific matting agents market is expected to witness significant growth over the forecast period
The paints & coatings industry is rapidly expanding, owing to the demand from emerging economies and increasing middle-class population. This growth is driving the demand for many building and industrial materials, including paints and coatings. Countries such as China, India, Malaysia, Indonesia, and Thailand are investing in new residential and commercial buildings.
Owing to the high growth potential, India is projected to be the fastest-growing matting agents market during the forecast period followed by Vietnam, Indonesia, and Malaysia in terms of volume. The shifting of end-use industries such as automotive, marine, and furniture to countries such as Indonesia and Vietnam is expected to drive the matting agents market in the Asia-Pacific.
In the process of determining and verifying the market size for the several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
- By Company Type: Tier 1 (47%), Tier 2 (33%), and Tier 3 (20%).
- By Designation: C-level (61%) and Manager Level (39%)
- By Region: North America (15%), Europe (20%) Asia-Pacific (51%), and Rest of the World (14%).
The key players considered in the report are:
1. Evonik Industries
2. PPG Industries
3. Huntsman Corporation
4. IMERYS Minerals Ltd.
5. W.R. Grace
6. JM Huber
7. BYK Additives & Instruments
10. Lubrizol Corporation
This report covers the matting agents market, both, in terms of volume and value, and forecasts the market size till 2022. The report includes the market segmentation based on material, technology, application, and region. It also provides company profiles and competitive strategies adopted by the key players in the global matting agents market.
Key benefits of buying the report:
This research report is focused on various levels of analyses?industry trends, market share analysis of key players, supply chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the matting agents market; high-growth regions; and market drivers, restraints, and opportunities.