Global Matting Agents Market to Experience CAGR of 5% Owing to Expansion of Product Portfolio

Matting Agents Market: Snapshot

Matting agents help achieve a low-gloss and a low-sheen finish on the surface to which the paints and coatings formulations containing matting agents are applied. It provides the surface with a matt finish, while maintaining the soft feel of the surface. Matting agents are of three type viz. Silica, Thermoplastic, and Wax-based. Currently, silica matting agents are preferred more over the other two counter parts. Based on technology, the matting agents markets can be categorized into water-based, solvent-based and other technologies. Achieving a matt-finish appearance is a matter of choice of end-users of the products, in which the matting agent formulations are utilized. Currently, the market for paints and coatings providing a low-gloss matt finish is small, as compared to the paints and coatings providing a gloss finish. The preference of end-users, especially in the consumer markets such as the automotive industry, is more towards gloss finish. Nonetheless, the market for paints & coatings providing low-gloss matt finish is expanding at a moderate growth rate. Consequently, the matting agents market is expanding at a moderate growth rate. Asia Pacific is anticipated to dominate the market during the forecast period, followed by Europe and North America

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Changing customer preference towards low-gloss matt finish and increasing demand for matting agents in industrial and architectural coatings

The customer preference is marginally shifting toward low-sheen, low-gloss, matt finish products, due to the increasing awareness of the benefits of low-glare properties. Low-gloss surfaces prove to be less disturbing, especially in the larger spaces. The changing customer preference towards matt finish, and the expansion of end-user industries such as automotive and construction are anticipated to fuel the demand for matting agents in various coatings formulations, especially the wood and coil coating formulations. Industrial coatings is a major application segment of the matting agents. Demand for matting agents in the industrial coatings segment has been increasing owing to the requirement of low-gloss finish and anti-glare properties in industrial applications where high-gloss finish acts as disturbance for workers working in the area. Especially, on the shop floors in factories, where a lot of machine work is involved, a low-gloss finish is preferred. Furthermore, matting agents improve the slip, scuff, and rub resistance in architectural coatings, which are highly desirable in architectural coatings. Thus, the demand for matting agents in industrial and architectural coatings segments is rising consistently, in order to improve the surface properties and achieve the desired finish on the surface of the products, on which the coatings containing matting agents are applied.

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Changing preference toward UV cure coatings

Demand for UV cure coatings has been increasing significantly for the last few years. The major factors influencing the choice of coatings for any application include cycle times, cost efficiency, and emission of volatile organic compounds (VOC). Cycle times are reduced to a greater extent, with increased cost efficiency, and low VOC emissions, due to the usage of UV cure coatings. Furthermore, UV cure coatings are versatile, and provide users with the flexibility to be utilized for diverse applications. This makes UV cure coatings a preferred choice over its counterparts. The market for UV cure coatings is anticipated to expand at a significant growth rate in the near future. Addition of matting agents to the UV cure coatings is a difficult and a tedious job, and poses several challenges. Moreover, the efficiency of the matting agents also reduces due to the less curing time required for UV cure coatings. The changing preference toward UV cure coatings is anticipated to hamper the matting agents market, unless an alternative matting technology is developed, which is compatible with UV cure coatings

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Consolidated market for matting agents with the top few players accounting for more than 70% of the market

The global matting agents market is a highly organized market with the top players accounting for more than 70% of the market share. Key players in the Matting agents market are Evonik Industries Inc., W.R. Grace & Co.-Conn., PPG Industries Inc., Arkema Group, Imerys Group, Akzo Nobel N.V., Huntsman International LLC etc.

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