9th January 2020 –Matting Agents Market is anticipated to reach USD 1.05 billion by 2025. A matting agent implies an additive that helps to give matte finishing to the substrates. Matting agents are added to the paints, coatings, and inks that scatter the inward light eventually delivering a matte finish to the substrates.
The factors that propel the growth of the Matting Agent Market include rise in the disposable income, rapid urbanization, rising acceptance among consumers, growing coating industry, and environment-friendly features. On the other hand, there are factors that may hamper the growth of the market including higher film shrinkage time and emission of high VOC in solvent-based technology. The industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Advances in the coatings industry have led to the surge in the applications of soft touch coatings in consumer electronics, automotive, and packaging industry. Owing to this, numerous matting agents are being established in order to surge stain resistance characteristics of soft touch coatings. Furthermore, novel matting agents for radiation curing coatings are anticipated to be proposed in the market in the forecast period.
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Matting Agents industry may be explored by product type, application, formulations and geography. The market may be explored by product type as Inorganic may further include Silica and Others and Organic may further include Thermoplastics and Waxes. The “Inorganic” segment led the Matting Agents Market in 2016 and is anticipated to maintain its dominance by 2025. Amidst inorganic matting agents demand, “Silica-based products” occupied a foremost share. The factors that could be attributed to the growth include high-quality matte finishing and eco-friendly nature.
The key applications that could be explored in the market include Architectural, Industrial, Printing Inks, Wood, Leather and Others. The “Architectural” segment led the matting agent industry in 2016 and is anticipated to maintain its dominance by 2025. The factors that could be attributed to the growth include increasing usage in nonresidential & residential buildings and growing applications of decorative architectural things such as sculptures and wall paintings. The market could be explored based on formulation as Solvent borne, Waterborne, UV, Powder and Others. The “Waterborne” segment led the matting agents industry in 2016 and is anticipated to maintain its dominance by 2025.
Asia-Pacific accounted for the major share of the Matting Agent Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing consumption of matting agents in architectural coatings, rising consciousness regarding matting agents, and surge in the income level. Asia-Pacific is likely to be followed by the European region.
Some of the key players that fuel the growth of the Matting Agents Industry comprise BASF, W.R. Grace, Baltimore Innovations, PQ, PPG Industries, Axalta Coating Systems, Huntsman International, Evonik Industries, BYK, Shamrock Technologies, Royal DSM, Sure Crete Design Products, Shouguang Baote Chemical and Industrial and Others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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