Global Matting Agents Market Estimated to Reach US$ 859 Mn by 2025 | TMR

The global matting agents market was valued around US$ 540 Mn in 2016 and is anticipated to register a CAGR of over 5% from 2017 to 2025, according to a new report by Transparency Market Research titled “Matting Agents Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025”. Matting agents, when added to paints and coatings, help control the gloss of the surface to which it is applied. Matting agents are fine particles that are dispersed in the paints and coatings formulations in such a way that they scatter the light falling on the surface, in the desired defined manner. This helps achieve a matt finish or reduce the gloss of the surface to which they are applied. Matting agents are of three types, viz., silica, wax, and thermoplastic. These are majorly employed in the coating formulations of various coatings including architectural coatings, industrial coatings, wood coatings, leather coatings, metal coatings and other coatings.

Increasing demand for wood and coil coatings to drive the market for matting agents

Increasing demand for wood and coil coatings, which are the major applications of matting agents is in-turn driving the demand for matting agents. Another factor driving the matting agents market is the increasing demand for matting agents in the industrial and architectural coatings. Matting agents provide a surface with a matt finish and soft-feel. Matting agents also improve slip, mar resistance, and surface properties of the material on which they are applied. According to a recent study by the California State University, the perceived value of a product in the mind of the consumer increases due to the haptic effects or soft-feel of the product, due to which matting agents are gaining popularity in applications where low glare is desired. Furthermore, matting agents improve the slip, scuff, and rub resistance in architectural coatings, which are highly desirable in architectural coatings.

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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. However, increasing demand for UV cure coatings is a major restraint for matting agents market. The preference of the end-users of coatings is shifting towards the UV cure coatings due to its benefits over its counter parts. Matting agents pose several issues when it comes to compatibility with UV cure coatings, thus making it relatively difficult to add matting agents to UV cure coatings. Addition of matting agents to UV cure coatings also leads to reduced efficiency of matting agents due to less curing time. Thus, the increasing demand for UV cure coatings is a threat to the matting agents, unless a matting agent technology compatible with UV cure coatings is developed. Diatomaceous earth is gaining importance as a base material for matting agents, with the help of which the producers are developing a low cost eco-friendly matting agent, in line with the stringent government norms. This provides an opportunity for the existing as well as new players to penetrate the highly consolidated matting agents market.

Abundant and uniform geographic distribution of silica ensures abundant supply of raw material for silica matting agents

Based on product type, silica matting agents is the major segment in matting agents market and it is expected to dominate the market during the forecast period in terms of value and volume. Silica is a major raw material that is used for making matting agents. Precipitated silica and fumed silica are the two major processed silica, which are utilized to manufacture mating agents. Silica have very high efficiency in terms of matting power.

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Emphasis of government authorities on low VOC emissions driving the demand for water based matting agents segment

Water-based matting agents are eco-friendly matting agents that are utilized in paints & coatings applications. Solvent-based matting agents possess significantly higher levels of organic solvents. These type of solvents are responsible for the strong odor when applied to surfaces. Water-based matting agents are gaining importance especially in North America and Europe, due to less emission of volatile organic compounds. Water-based matting agents are anticipated to dominate the market during the forecast period. In terms of application, wood coatings segment held a major portion of the matting agents market in 2016, and is anticipated to dominate the market during the forecast period.

Growth of automotive industry and furniture industry in Asia Pacific anticipated to drive the market for matting agents in the region

In terms of revenue and volume, Asia Pacific held the largest share of more than 25% of the global matting agents market in 2016. Asia Pacific is experiencing major economic and infrastructural development in developing countries such as China, India, Vietnam, and Indonesia. This can be attributed to the rapid industrialization in the region. Consequently, end-user industries of coil and wood coatings, such as construction, automotive, and furniture industries are witnessing significant expansion in the region. The automotive industry in Asia Pacific is expanding at a faster pace, as compared to other regions. Furthermore, the demand for infrastructure has also risen significantly due to the rising population in the region. This put together, is driving the demand for matting agents in the region

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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 an organized market. Some of the major players include Evonik Industries Ag, W.R. Grace & Co.-Conn, PPG Industries, Inc., Huntsman International LLC, Axalta Coatings Systems Ltd., The Lubrizol Corporation, and Akzo Nobel N.V. The matting agents market has been experiencing continuous product and technology developments by the market players. Also, the market players are engaging in capacity expansion of their matting agent product portfolio. Market giant, W.R. Grace & Co.-Conn., launched a new product, named ‘Syloid A’, a matting agent to be utilized in high-performance, low-gloss paints for the architectural market in December 2015. On January 7, 2016, PPG Industries, Inc. announced the expansion of the production capacity of its precipitated silica plant in Lake Charles, Louisiana, U.S., which is anticipated to increase the company’s production capacity of silica and related products by 10,000 tons/year

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