Matting Agents Market

Matting Agents Market Size (2023-2028):

The matting agents market was registered at $ 465.7 million in 2022 and is anticipated to reach $ 650.6 million in 2028, at a CAGR of 7.52% during the forecast period 2023-2028

Matting agents when utilized with paints and coatings diffuse incoming light, thus giving a matte influence to the desired surface. In addition, the higher the dosage of the matting agent in the paint, the stronger the matting effect. Normally, matting agents with a smaller particle size give a relatively less matting effect than matting agents with larger particle sizes. Silica-based matting agents are obtained by a silica gel process or a hydrothermal process. While the wax-based matting agents used for matting are obtained from compounds of polypropylene and polyethylene. For best tinting efficiency, tinting agents should have the same refractive index as the compounds used in paints. To increase matting properties, matting agents are sometimes combined with fillers and pigments and then mixed with paints using equipment such as a bead mill and solvent.

The application of architectural coatings of matting agents is expected to remain higher during the forecast period. The application of matting agents in architectural coatings increases temperature and corrosion resistance. In addition to this, the use of matting agents in paints and coatings imparts anti-reflective properties to end-user products. As a result of these advantages, demand for architectural matte finish paints and coatings has increased for interior and exterior wall applications in residential, commercial, institutional, and industrial buildings. The continuous improvement of economic conditions in the region has improved the financial situation of consumers, in turn stimulating demand for buildings and other infrastructure activities in the Asia-Pacific region. In addition, the country ventured into new economic models nationally and internationally during the year. Due to all these factors, the Shading Agents market is likely to grow worldwide during the forecast period.

Drivers & Restraints in the Matting Agents Market

The preference for matte-finished surfaces has reportedly increased steadily in the recent past due to the aesthetic appeal associated with matte-finished surfaces. Shading consumption has experienced strong growth, especially in the construction sector, complementing the expected growth in the shading market. In addition, matting agents based on wax and silica have refractive indices identical to those of the compounds used in paints. This property of wax and silica-based matting agents makes it possible to increase their applications in various fields, thus promoting their expected growth on the market. In addition, the demand for cars with a matte finish has seen significant growth worldwide and this trend is expected to continue during the forecast period. Hence, this forecasted growth in demand for finished matte products is expected to act as a driver for the matting agents market during the forecast period. The mat also imparts scratch resistance properties to the surface, making it ideal for use in various applications.

The cost of matte finish coatings is relatively higher than that of conventional coatings, which limits the expected growth of the matting agent market.

MATTING AGENTS MARKET REPORT COVERAGE:

The matting agents market is segmented into the following categories in 2028.

Matting Agents Market - By Material:

• Silica

• Waxes

• Thermoplastics

• Others

In terms of market turnover, the inorganic segment dominated the product segment, occupying more than 60%. The global market demand for the inorganic segment was 384.86-kilo tons in 2020. The demand for the organic segment is expected to grow at an expected CAGR of 5.7% from 2020 to 2025.

Silica-based products are used for matting in a wide range of applications such as paints, coatings, lacquers, inks, varnishes, and plastics. They have lower viscosity and stirring capacity. In addition, they exhibit dispersion stability in almost all types of formulations.

The organic wax segment was worth $ 342.73 million in 2020 and is expected to grow at an expected CAGR of 5.8% over the next nine years. The type of wax floats on top of a painting, changing its surface properties.

Matting Agents Market - By Technology:

• Water-based

• Solvent-based

• Radiation Cure and High Solids

• Powder

Water-based technology is the most widely used technology in the coatings industry. Water-based matting agents contain up to 80% water and small amounts of other solvents. They are used for many applications such as architectural coatings, wood coatings, plastic coatings, and other industrial coatings. The water-based technology offers high resistance to heat and abrasion. Typically, silica-treated or unwaxed is used in water-based systems. Solvent-based technology is preferred among manufacturers due to the low cost of processing. Solvents used during the coating application process easily evaporate due to the high volatility, which causes film shrinkage and provides effective matting properties.

The powder coating formulations segment is expected to grow at an expected CAGR of 6.4% during the forecast period. It is used in powder coating applications that have been developed which provide better matting performance while maintaining coating properties such as flow and color stability. Due to its durable, inexpensive, and quality attributes, there has been an increase in the demand for powder coatings, and this trend is expected to continue throughout the forecast period, thus benefiting the overall growth of the 'industry.

Matting Agents Market - By Application:

• Industrial
• Architectural
• Leather
• Wood
• Printing Inks
• Others

The architectural application dominated the shading agent market in 2020, in terms of value. Architectural coatings are applied to interior and exterior walls of all types of residential, commercial, industrial, and institutional buildings. These coatings also find use in decorative interiors such as murals, hardwood floors, sculptures, and furniture. Among all industrial applications, matting agents are mainly used in automotive coatings.

The demand for industrial coatings was 74.53 tons in 2020 and is expected to reach 96.55 tons in 2025. Matting agents are extensively utilized in industrial applications such as printing inks, metals, papers, and plastics. Among these applications, the plastics segment is expected to experience the highest CAGR of 5.6% from 2020 to 2025.

Matting Agents Market - By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

In the Asia-Pacific region, China is expected to experience the strongest growth in construction activity, followed by India. In China, public spending has increased to build affordable housing to meet the demand for housing. Despite volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government, to resist the expansion of industrial and service sectors, has resulted in significant growth of the Chinese construction industry in the past years. With the construction sector dominated by state-owned enterprises, increased public spending is boosting the industry in the country. In India, the infrastructure sector has become one of the main areas of government intervention. The government aims to stimulate the construction of buildings in the country and has decided to create a unique window-cleaning facility, in order to provide quick approvals of construction projects. Japan is willing to invest in infrastructure projects abroad, rather than in its own country, as the country is more interested in reaping the benefits of using its technology in other countries, such as India. Internally, the Japanese architecture and infrastructure industry has matured, making it a less promising country for paints and coatings. Hence, the growing residential and commercial construction activities in the region are expected to boost the Asia-Pacific matting agent market during the forecast period.

The European market is expected to grow at an expected compound annual rate (CAGR) of 5.5% during the forecast period. Strong demand for applications such as architecture, wood cladding, and industrial cladding, along with the presence of major industry players, are contributing to the market growth in the region. North America is expected to experience a demand of 56.87-kilo tones by 2025.

Recent Developments:

• In February 2020, Honeywell is launching a line of high-performance toning agents. NduroMatt includes three matting agents specially designed to provide improved surface performance on a wide range of architectural, wood, and industrial coatings.

Matting Agents Market key players:

1. Evonik Industries (Germany)

2. PPG Industries (U.S.)

3. Huntsman Corporation (U.S.)

4. IMERYS Minerals Ltd. (France)

5. W.R. Grace (U.S.)

6. J. M. Huber (U.S.)

7. BYK Additives & Instruments (Germany)

8. AkzoNobel (Netherlands)

9. Arkema (France)

10. Lubrizol Corporation (U.S.)