Matting Agents Market

Updated on : June 27, 2024

Matting Agents Market

Matting Agents Market was valued at USD 400 million in 2023 and is projected to reach USD 533 million by 2028, growing at 5.8% cagr from 2023 to 2028. 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.

Global Matting Agents Market Trends

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Matting Agents 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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Matting Agents 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.

Matting Agents Market Report Scope

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 Technology, 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.

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