Increasing Demand from End-Use Industries Dominating
The report "Matting Agents Market" by Material (Silica, Waxes, Thermoplastics), Technology (Water-Based, Solvent-Based, Radiation Cure and High Solids, Powder), Application (Industrial, Architectural, Leather, Wood, Printing Inks), Region - Global Forecast to 2022", The global matting agents market was valued at USD 448.6 Million in 2016 and is projected to reach USD 579.9 Million by 2022, at a CAGR of 4.4% from 2017 and 2022.
Browse 83 Market Data Tables and 39 Figures spread through 139 Pages and in-depth TOC on "Matting Agents Market by Material (Silica, Waxes, Thermoplastics), Technology (Water-Based, Solvent-Based, Radiation Cure and High Solids, Powder), Application (Industrial, Architectural, Leather, Wood, Printing Inks), Region - Global Forecast to 2022"
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Increasing awareness among consumers regarding the benefits of matte finish on coating applications is expected to drive the demand for matting agents in the overall coating additives market. Economic efficiency is a major driver for the growing preference of the matte finish over glossy surface coatings, as the matte finish has high resistance to scratches.
Silica led the matting agents market
Silica is the majorly used material to achieve the matte finish across all applications. Modern synthetic silica gels are highly porous, and this porosity is therefore able to provide a high quality matte finish. These are also non-hazardous to the environment in both, their chemical and physical properties. Silica accounted for the largest share of the matting agents market in 2016.
Demand for matting agents manufactured by using water-based technology is expected witness the fastest growth during the forecast period
Growing awareness among end-use consumers regarding the adverse effects of the solvent-based technology is expected to benefit the growth of the water-based coatings technology. The water-based coatings technology is expected to witness the fastest growth in terms of market value from 2017 to 2022. The water-based technology has captured a major market share of the solvent-based technology in many applications owing to the minimal to zero percent organic solvents in formulations.
Asia-Pacific region is the largest consumer of matting agents
The Asia-Pacific region is the largest market of matting agents, in terms of value, followed by Europe and North America. The growth can be attributed to the rapidly increasing consumption of matting agents in architectural coatings in countries such as Indonesia, India, Malaysia, Thailand, and Vietnam. Growing awareness of the benefits of antiglare properties on the surfaces of coatings is expected to further benefit the growth of the matting agents market over the next five years in the Asia-Pacific region. Rising income levels in these countries are also expected play a pivotal role in driving the market in the decorative paints market.
The key players profiled in the report include Evonik Industries (Germany), PPG Industries (U.S.), Huntsman Corporation (U.S.), W.R. Grace and Company (U.S.), Arkema (France), AkzoNobel (Netherlands), Lubrizol Corporation (U.S.), J,M. Huber Corporation (U.S.), IMERYS Minerals Ltd. (France), BYK Additives & Instruments (Germany), Allnex (Germany), P Q Corporation (U.S.), Axalta Coating Systems (U.S.), Michelman, Inc. (U.S.), Quantum Silicones (U.S.), Heubach (Germany), Viacor Polymer GmbH (Germany), Toyobo Co., Ltd. (Japan), Remmers (Germany), DOG Chemie (Germany), Thomas Swan Co. & Ltd. (U.K.), Wattyl Industrial Coatings (U.S.), J Color Chemicals (China), Dalian Fuchang Chemical Group Co., Ltd. (China), and Deuteron GmbH (Germany).
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