As per the recently published report by MarketsandMarkets™, The “Matting Agents Market by Material (Silica, Waxes, Thermoplastics), Technology (Water-borne, Solvent-borne, Powder, Radiation cure & High Solids), and Application (Industrial, Architectural, Leather, Wood, Printing Inks), & Region – Global Forecast to 2028″, size was USD 400 million in 2023 and is projected to reach USD 533 million by 2028, at a CAGR of 5.8%, between 2023 and 2028.
The growing industrialization in Asia Pacific has resulted in a surge in demand for matting agents from end-use industries. Properties such as resistance to chemicals, exterior durability, and thermal stability make matte finish a preferred coating for manufacturing equipment in industries. The demand for paints & coatings is expected to grow due to increased construction activities, supported by rapid urbanization in emerging countries such as India and China and growing household maintenance activities globally.
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- 257 Market data Tables
- 56 Figures
- 247 Pages and in-depth TOC on “Matting Agents Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The key players in matting agents market are Evonik Industries AG (Germany), PPG Industries, Inc. (US), Huntsman International LLC (US), Imerys S.A. (France), W. R. Grace & Co.-Conn. (US), J.M. Huber Corporation (US), ALTANA (Germany), Akzo Nobel N.V. (Netherlands), Arkema S.A. (France), and Lubrizol Corporation (US) are the leading providers of matting agents globally. These companies have manufacturing facilities as well as dominant distribution networks across key regions, such as Asia Pacific, North America, and Europe.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the matting agents market.
Recent Developments in Matting Agents Market Industry
- In March 2023, BYK, subsegment of ALTANA launched three new additives under the CERAFLOUR product line. With the corn starch-based polymers with wax-like properties, BYK has further expanded its portfolio of sustainable additives. Both additives ensure good matting while maintaining high transparency.
- In March 2023, BYK officially opened its second manufacturing facility in China, expanding existing premises with laboratories and administration in Shanghai. With an initial output of 4,750 tonnes, the integrated site is part of a larger project at Shanghai Chemical Industry Park (SCIP).
- In March 2023, AkzoNobel Aerospace Coatings launched Aerofleet Coatings Management, a new digital, data-driven service that helps airlines and other large operators to tailor and optimize the coatings’ replacement and maintenance schedule for individual aircraft within an airline fleet.
- In July 2022, Evonik launched three new silicas from the specialty chemicals group that are characterized by a combination of efficient, ultra-deep matting, high transparency, and extremely fine surface haptics. All three matting agents can be used universally in water- and solvent-based systems as well as in pigmented and clear formulations.
- In August 2022, Evonik’s Coating Additives business line is expanding the production capacity of its ACEMATT precipitated matting agents at its manufacturing facility in Taiwan.s.
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The global matting agents market is segmented based on application into industrial, architectural, leather, wood, printing inks and others. On the basis of application, the architectural segment was the chief consumer of matting agents in 2022, owing to the high demand for matting agents to reduce gloss or shine, creating a matte or satin finish. Countries such as China, India, Japan, and Southeast Asian nations are major contributors to this demand. Given the diverse climates and weather conditions across the region, matting agents in architectural coatings that provide excellent weather resistance, durability, and protection against harsh elements are in high demand.
Based on material, the matting agents market is segmented into silica, waxes, thermoplastics and others. Based on material, the silica segment accounted for the major share of the matting agents market in 2022, in terms of value. Silica-based matting agents are the most common form of matting agents used across end-use industries, as these are the most efficient additives as compared to waxes, thermoplastics, and fillers.
The global matting agents market is segmented based on type into vitamins, carotenoids, polyphenols, enzymes, and synthetics. Based on type, the matting agents market was led by the vitamins segment in 2022 in terms of value. Various types of vitamins and their compounds, such as vitamin E (tocopherols), vitamin C (ascorbic acid), and vitamin A (retinol), are widely used in cosmetic products for moisturizing and nourishment purposes.
Based on technology, the matting agents market is segmented into water-borne, solvent-borne, powder, and radiation cure & high solids. The technology segment was led by the water-borne segment in 2022. Water-based technology is being increasingly adopted due to environmental concerns regarding the use of organic solvents in coating additives such as surface modifiers, rheology modifiers, and others. Solvent-based coatings have minimal to zero percent organic solvents in formulations.
Among the various regions, Asia Pacific accounted for the largest share of the matting agents market in 2022. The fastest-growing countries in the matting agents market are India, Vietnam, Indonesia, Thailand, and Malaysia. Asia Pacific is one of the key markets for matting agent manufacturers as the region has a high demand from the end-use industries, labor cost is comparatively low, and the regulatory norms are less stringent as well.
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