MarketsandMarkets projects the growth of the matting agents market from USD 448.6 Million in 2016 to USD 579.9 Million by 2022 at a CAGR of 4.4%. Growing use of matting agents in decorative paints and coatings such as wood, leather, and exterior and interior paints is expected to drive the overall matting agents market over the next five years. The growth of the construction and furniture industries is expected to drive the matting agents market during the forecast period. The increase in the use of matting agents in these industries is backed by the provision of properties such as scratch resistance, high water resistance, and ease of use. Skyscrapers are coated with matting agents for antiglare purposes to provide safety as well as for the aesthetics.
The matting agents market is expected to witness a high growth rate from 2017 to 2022, in terms of value. The key players in the matting agents market are Evonik Industries (Germany), PPG Industries (U.S.), IMERYS Minerals Ltd. (France), and Huntsman Corporation (U.S.). These players have adopted various strategies to expand their global presence and increase their market shares. Expansions & agreements, mergers & acquisitions and joint ventures are some of the major strategies adopted by market players to achieve growth in the matting agents market.
The growth of the matting agents market was largely influenced by mergers and acquisitions in the past few years. The year 2016 experienced a combination of all strategies being used by the major players in the market. Expansions and mergers and acquisitions were the major strategies adopted.
Evonik Industries is a major industry player in the matting agents market. The company operates through five business segments, namely, nutrition & care, resource efficiency, performance materials, services, and corporate. The matting agent products are reported under the resource efficiency business segment. The resource efficiency segment of the company supplies high performance materials which are environment friendly, serving automotive, paints, coatings, adhesives, construction, and various other industries. In December, 2016, the company announced investment in a new precipitated silica production plant in Charleston (South Carolina) in the U.S.
PPG Industries operates through various business segments, namely, architectural coatings, automotive OEM coatings, automotive replenish, fiber glass, industrial coating, packaging coatings, protective & marine coatings, and specialty coatings & materials. The company mainly adopted expansions as a key strategy in the matting agents market. In October, 2016, the company announced the completion of the precipitated silica production plant in Delfzijl, Netherlands. This expansion is expected to increase the precipitated silica production capacity of the company by 15,000 tons per year. The company is well integrated across the value chain.
Matting Agents Market by Material (Silica, Waxes, Thermoplastics), Technology (Water-Based, Solvent-Based, Radiation Cure and High Solids, Powder), Application (Industrial, Architectural, Leather, Wood, Printing Inks), Region - Global Forecast to 2022
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