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
In terms of value, the matting agents market is estimated to grow from USD 400 million in 2023 to USD 533 million by 2028, at a CAGR of 5.8%. The growth of the construction and furniture industries plays a key role in driving the matting agents market. The increased consumption of matting agents in end-use industries is backed by their potential advantages, such as scratch resistance, high water resistance, and ease of use. In the building & construction industry, matting agents are used as additives in decorative paints, wood strainers, flooring, emulsion paints, and others. The antiglare property of matting agents is the major reason for the growing popularity of coatings in the construction industry.
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Market Dynamics
Driver: Growth of construction sector
Globalization, urbanization, rising standard of living, increasing purchasing power parity (PPP), infrastructural development, and the growing need to construct megacities in emerging economies fuel the construction industry worldwide. The construction industry accounts for about 5% of the GDP in developed countries and 8% in developing economies. A large demand for infrastructure in emerging economies in the next two decades is expected. By 2040, global infrastructure investment is estimated to be USD 3.7 trillion annually.
The COVID-19 pandemic impacted every region, country, and industry worldwide. Lockdowns and slowdowns were the norms for months. However, the crisis has subsided, and businesses are returning to usual. A construction boom is expected in Asia Pacific with infrastructure projects, increasing urbanization, and increased interest in technology implementation and business model remodeling. Sustainability trends such as adopting prefabricated construction, sustainable construction, and green building technology are likely to revolutionize conventional business in the construction sector.
Restraints: Requirement of more drying time for waterborne matting agents
The drying and curing of waterborne matting agents require more time than that of solvent-borne matting agents. Waterborne matting agents have excellent flow properties that change with humidity, affecting the coating application. During high humidity, water does not evaporate easily, resulting in poor cure and decreased performance. Waterborne matting agents are also sensitive to freezing conditions. Many waterborne matting agents are not usable after freezing.
Opportunities: Shifting focus to Asia Pacific
The construction and automotive industries are witnessing rapid growth in Asia Pacific, creating ample opportunities for matting agent producers to commercialize their products in decorative paints and automotive interiors. Growing awareness among consumers and rising demand for antiglare properties in various industries are expected to benefit the matting agents market in the region. Matting agents are used as additive in architectural coatings , industrial coatings, and printing inks across end-use industries such as construction, automotive, furniture, footwear and electrical and electronics.
Challenges: Adoption of new technologies
The difficulty in attaining widespread acceptance of a technology that may modify how one formulates is high. This implies that the manufacturer’s offerings must either be transformational or aid in effectively applying a new coating. Collaborations in the coating technology between matting agent manufacturers and raw material suppliers will be necessary to bring forward new coating technologies. The firm or manufacturer must demonstrate that they are knowledgeable in their field and can cater to their demands with feasible solutions. The industry is still very conservative and reluctant to take new forms of cooperation, such as open innovation.
Matting Agents Market Ecosystem
The value chain of the coating additives industry includes the entire process of converting raw materials—resins, solvents, pigments, hardeners—into finished additives for various applications in end-use industries, such as architecture, automotive, general industrial, protective, wood, and printing inks. The coating additive industry focuses on advanced, sustainable, cost-effective, high-performance materials that offer less permeability, thereby increasing the product’s shelf-life. It is undergoing continuous technological upgrades concerning the design and development of raw materials.
Based on the material, silica was the largest segment of the matting agents market, in terms of value, in 2022.
Silica-based matting agents accounted for a major share of the global market, in terms of value, in 2022. Silica is majorly used as a matting agent owing to its compatibility with coating formulations. Both precipitated and pyrogenic silica are used as matting agents in various applications. However, some of the silica-based matting agents are treated with waxes and other chemicals to change their chemical properties and improve the matte finish.
Based on technology, water-borne were the largest segment of the matting agents market, in terms of value, in 2022.
Water-based matting agents accounted for the largest share of the global market in terms of value in 2022. Stringent government regulations for the manufacture of environmentally friendly products in developed markets have pushed the coatings industry to invest in finding alternatives that meet regulatory standards. The use of water-based inks is increasingly becoming common due to concerns regarding the use of organic solvents in coating additives such as surface and rheology modifiers.
Based on application, architectural was the largest segment of the matting agents market, in terms of value, in 2022.
The architectural coatings application led the matting agents market and accounted for the largest in global market, in terms of value, in 2022. Matting agents used in architectural coatings provide corrosion and temperature resistance and antiglare properties in end products. The growing popularity of the matte finish among consumers in both developed and emerging nations, coupled with the growth in the construction industry, is estimated to drive the matting agents market in architectural coatings.
Based on application, skin care was the largest segment of the matting agents market, in terms of value, in 2022.
Matting agents are used in skincare and hair care products to deliver the proposed benefits. The skin care application accounted for the larger market share, in terms of value, of the global matting agents market in 2022. It is estimated to have high demand due to growing aspirations to have younger skin and even skin tone and aging population growth. The increasing impact of global warming, with a rise in excess heat levels, is surging the demand for sun protection and moisturizing agents.
Asia Pacific accounted for the largest market share of the matting agents market, in terms of value, in 2022.
The construction industry has witnessed significant growth over the past few years in Asia Pacific. The demand for coatings is expected to grow due to the increase in construction activities, which is supported by rapid urbanization and growing household maintenance activities globally. The demand for coatings has been negatively impacted due to stringent government regulations and high safety standards regarding the use of volatile organic compounds. However, the development of environment-friendly matting agents such as water-based, powder, and high solids is expected to drive the matting agents market.
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Key Market Players
The key players in this 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) and others. These are the key manufacturers that secured a major market share in the last few years.
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Report Metric |
Details |
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Years considered for the study |
2017–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Units considered |
Value (USD Million) |
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Segments Covered |
Material, Technology, Application, and Region |
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Regions covered |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
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Companies profiled |
The key players profiled in the report 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) and others. |
This report categorizes the global matting agents market based on material, technology, application, and region.
On the basis of Material , the Matting agents market has been segmented as follows:
- Silica
- Waxes
- Thermoplastics
- Others
On the basis of Technoogy , the Matting agents market has been segmented as follows:
- Water-borne
- Solvent-borne
- Powder
- Radiation cure & High Solids
On the basis of Application, the Matting agents market has been segmented as follows:
- Industrial
- Architectural
- Leather
- Wood
- Printing Inks
- Others
On the basis of region, the Matting agents market has been segmented as follows:
- Asia Pacific
- North America
- Europe
- Middle East & Arica
- South America
Recent Developments
- 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.
Frequently Asked Questions (FAQ):
Which are the major players in the Matting agents market?
The key players profiled in the report include 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).
Who are the top 5 players in the market?
Evonik Industries AG (Germany), PPG Industries, Inc. (US), Imerys S.A. (France), W. R. Grace & Co.-Conn. (US), and Arkema S.A. (France) are the major service providers of the matting agents market.
What are the drivers and opportunities for the matting agents market?
Growing industrialization in Asia Pacific has resulted in a surge in demand for matting agents from end-use 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.
What are the various strategies key players are focusing on within the matting agents market?
New acquisitions, expansion, and partnerships are some of the strategies adopted by key players to expand their global presence.
What are the major factors restraining the matting agents market growth during the forecast period?
Several governments are adopting regulatory policies on the use of matting agents. This encourages coating additive producers to enhance their production processes to comply with the new policies. Potential changes in regulations can create uncertainty throughout the value chain. .
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2 RESEARCH METHODOLOGY (Page No. - 39)
The study involved four major activities in estimating the market size for matting agents. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Primary Research
The Matting agents market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the automotive, medical, electronics, and others. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Breakdown of Primary Participants
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022, available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
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COMPANY NAME |
DESIGNATION |
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Evonik Industries AG |
Director of Marketing |
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PPG Industries, Inc. |
Manager- Sales & Marketing |
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Imerys S.A. |
Sales Manager |
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W. R. Grace & Co.-Conn. |
Production Manager |
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Arkema S.A. |
Sales Manager |
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the Matting agents market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Matting agents Market: Bottom-Up Approach
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Matting agents Market: Top-Down Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the matting agents industry.
Market Definition
According to the American Coatings Association, “matting agents are substances or additives used in coatings, paints, varnishes, and other surface finishes to reduce gloss or shine on a surface. They create a matte or low-gloss appearance by scattering light and reducing light reflection.” The primary function of matting agents is to alter the surface properties of a coating or finish, making it less reflective and more diffuse in terms of light. This effect is achieved by introducing particles or substances into the coating that disrupt the smooth surface, causing light to scatter rather than reflect directly. As a result, the surface appears matte or less shiny.
Key Stakeholders
- Matting agents manufacturers
- Matting agents distributors
- Raw material suppliers
- Government and research organizations
- Investment banks and private equity firms
- Research & development institutions
- Environment support agencies
- Investment banks and private equity firms
Report Objectives
- To define, describe, and forecast the global matting agents market size in terms of volume and value
- To provide detailed information about the significant drivers, restraints, challenges, and opportunities influencing market growth
- To estimate and forecast the market size based on material, technology, and application
- To forecast the size of the market based on five major regions–Asia Pacific, North America, Europe, the Middle East & Africa, and South America, along with their key countries
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders and to provide a competitive landscape of market leaders
- To analyze recent developments such as agreements, mergers & acquisitions, expansions, and product launches in the market
- To strategically profile key market players and comprehensively analyze their core competencies2 and market share
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application type
Company Information
- Detailed analysis and profiles of additional market players (up to five)
Growth opportunities and latent adjacency in Matting Agents Market