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Matting Agents Market Size Forecast to Reach Around $700 Million by 2025

Matting Agents Marke

iCrowdNewswire   Oct 29, 2020  9:40 AM ET

The Global Matting Agents Market size is forecast to reach around $700 million by 2025, after growing at a CAGR of 5% during 2020-2025. The growing demand for highly efficient matting agent especially suitable for pigmented systems that often used in the decorative and industrial coatings is drive the growth of the matting agent market industry. Furthermore, the increasing use of anti-corrosion coatings in the automotive, railways, marine, and aviation industry and developing infrastructural activities in developed and developing economies are also driving the growth of the Matting Agents market size over the forecast period. Whereas, due to the outbreak of COVID-19 globally, the global Matting Agents market industry is expected to witness an exponentially decline growth from 2020-2021 globally, due to slow down across various industry verticals and disruption of supply chain and international trade network worldwide.

By Technology – Segment Analysis

The solvent-based technology segment held the largest share of more than 35% in the global Matting Agents market in 2019 due to widely used in the paint and coating industry. Furthermore, owing to the low processing cost, solvent-based technology is the preferred choice among manufacturers. Whereas, the solvent-borne matting agent formulations have historically demonstrated high performance in diverse coating applications. Solvent-borne formulations are comprehensively used in automotive coatings and industrial coatings. Solvent-borne technology has one major advantage over water-based technology as they are less susceptible to environmental conditions such as temperature and humidity during the curing phase. Humidity can actually prevent the water in a water-based from evaporating, making them impractical in some climates.

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By Material – Segment Analysis

Among the materials, the silica segment held the largest share of more than 40% in the global Matting Agents market in 2019 due to higher efficiency as compared to other matting additives that help to surge the viscosity of the formulation. Furthermore, the growing uses of silica matting agents for architectural coatings across residential, commercial, industrial, and institutional buildings in the developed and developing regions drive the growth of this segment, which in turn propels the growth of matting agents market over the forecast period.

By Application – Segment Analysis

Among the application types, the Industrial coatings segment was the largest segment in 2019 contributing more than a 30% share in the global market. Matting agents are extensively applied in maintenance and vehicles used by transportation agencies, which have been used to protect a substrate by providing a barrier between the metal and its environment outside, especially in a chloride-laden environment. Additionally, the growing demand for inorganic matting agent like silica-based products across various industrial applications like paints, coatings, lacquers, inks, varnishes and plastics further boosts the growth of global Matting Agents industry during the study period.

In 2019, APAC dominated the Matting Agents market with a share of more than 35%, followed by North America and Europe. The presence of emerging countries with large customer base like China and India, availability of low-cost labors, flourishing manufacturing sector, and growing construction projects in China, Japan, and India are contributing to the growth of Matting Agents market share in APAC region during the study period. Besides, the growing consumption of matting agents for the leather coatings and architectural coatings across India, Malaysia, Indonesia, and Vietnam is also contributing to the growth of this market in the APAC region during the forecast period.

Drivers – Matting Agents Market

Implementation of Stringent Environment Regulations

The growing environmental awareness and stringent environment norms from developed and developing regions drive the demand for green solution coatings. Whereas, the regulations are helping to increase the value-added associated with higher levels of performance. Governments globally are focusing on green practices for reducing the impacts of chemicals on marine life, human health, and the environment. Whereas, the key players operating in the global market are more inclined towards providing coatings that meet industry standards and environmental regulations. Whereas, the stringent environmental regulation in Western Europe and North America region are driving the demand for water-based technology, which in turn drives the growth of this market during the forecast period.

Growing demand for durable and wear-resistant coatings

Globally, large investments are being made in the development of coating products for infrastructure and vehicles, energy production and machinery, building materials, and even consumer products. These investments are fuelled by the need to develop coatings that are durable, stronger, and wear-resistant throughout their use. The use of organic and inorganic matting agent materials like silica and wax for coatings to protects metal or other surfaces from natural degradation caused by different corrosive agents such as moisture, chemicals, and salt. Whereas the wax-based matting agents provide various benefits like slip and mar resistance, anti-blocking, and abrasion properties, and anti-settling and surface tension. Furthermore, the use of specific filler materials in the paints and coating increase the Pigment-Volume-Concentration of paint involving with all the side effects it implies. Therefore, owning to these factors its demand is increasing.

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Challenges – Matting Agents Market

The emergence of COVID-19 pandemic

The emergence of COVID-19, which is declared a pandemic by the World Health Organization (WHO), is having a noticeable impact on global economic growth. Whereas, according to International Monetary Fund (IMF), the global GDP is expected to decline by 0.3% in 2020. Besides, According to the World Trade Organization (WTO), global trade volumes are projected to decline between 13% and 32% in 2020 as a result of the economic impact of COVID-19. The pandemic is affecting operations of various industries such as automotive, oil and gas, construction, aerospace, and others, as most of the countries have issued “stay at home guidance” i.e., lockdown and it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021. As matting agents are extensively used in these industries, the declining operations of these industries are directly affecting matting agents’ market growth.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Matting Agents market report. In 2019, the market of global Matting Agents top 10 companies accounting for xx% of the share. Major players in the Matting Agents industry outlook are Evonik Industries, W.R.Grace, J. M. PPG Industries, Huntsman Corporation, IMERYS Minerals Ltd., Huber, BYK Additives & Instruments, AkzoNobel, Arkema, and Lubrizol Corporation.

Acquisitions/Technology Launches

In May 2019, Evonick AG was introduced a new matting agent as ACEMATT® 3400 in the ACEMATT product family. The new matting agent is used in high-solids and low-VOC formulations.

Key Takeaways

Among the regions, in 2019, the Asia-Pacific dominates the Matting Agents market owing to growing transportation, increasing urbanizations, and developing aviation infrastructure across the region.

The presence of volatile materials in matting agents and meeting stricter environmental standards are restraining the growth of this market during the forecast period.

The surging demand for hydrophobic coating, superhydrophobic coating, and corrosion inhibitor further drive the market growth.

The Emerging interest in green solutions to reducing the carbon emission and improve characteristics such as anticorrosion, durability, anti-fouling paint, and reduced friction drives the growth of this market over the study period.

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