Enjoy complimentary customisation on priority with our Enterprise License!
The matting agents market size is estimated to grow at a CAGR of 8.99% between 2022 and 2027. The market size is forecast to increase by USD 314.71 million. The growth of the market depends on several factors such as the rising automotive production, the rising demand for customized matting agents, and the increasing use of matting agents in the plastics industry.
This matting agents market report extensively covers market segmentation by product (organic and inorganic), technology (water-based, solvent-based, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising automotive production is driving growth in the matting agents market. The global market for matting agents is being stimulated by the growth of automotive production. As automotive manufacturing experiences a notable expansion, the demand for high-quality finishes and coatings with varying levels of gloss becomes increasingly essential. The need for matting agents is driven by this demand, which plays a pivotal role in achieving the desired aesthetic and functional characteristics of automotive surfaces.
Moreover, with consumers seeking personalized and visually captivating cars, the significance of matting agents in the automotive sector cannot be understated. Furthermore, matting agents play a role in both the interior and exterior aspects of the vehicle. As automotive production continues its upward trajectory, the demand for matting agents is expected to rise in tandem. Such factors are expected to drive the growth of the global matting agents market during the forecast period.
The growing demand for matting agents in the coatings industry is a key trend in the matting agents market. Matting agents have a key role to play in controlling the opacity and appearance of surfaces in the paint industry. One driving force behind this trend is the increasing need for customized finishes in various sectors. The construction industry demands coatings that offer not only protection but also aesthetic enhancement.
Moreover, matting agents help achieve finishes that are not only visually pleasing but also capable of withstanding environmental factors. Innovative formulations of matting agents, which are adapted to the particular needs of each application, must be explored by manufacturers. This trend emphasizes the crucial role matting agents play in the coatings sector and their contribution to creating coatings that are both visually appealing and functionally reliable. Such factors are expected to drive the growth of the global matting agents market during the forecast period.
The high cost of matting agents is a major challenge in a matting agents market. Manufacturers trying to make cost-effective coatings and finishes are faced with a critical challenge in terms of the cost of matting agents. Matting agents, which are specialized additives used to control gloss levels and surface characteristics, can contribute significantly to the overall cost of coatings. In particular, in sectors where cost-effectiveness is critical, this may have a negative impact on the competitiveness of finished products.
However, high-priced matting agents can lead to increased production expenses, negatively affecting profit margins and potentially pricing products out of the reach of certain market segments. The introduction of new and advanced mat products into the global market may, in the future, be hindered by higher development costs that could limit the industry's capacity to meet evolving needs. Such factors are expected to hinder the growth of the global matting agents market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Matting Agents Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Akzo Nobel NV- The company offers matting agents such as Sikkens matting paste that are used for reducing the gloss level of high gloss 2K paints.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The organic segment is estimated to witness significant growth during the forecast period. Organic matting agents, derived from natural sources such as plant-based materials, offer several advantages that align with the current market trends. The low impact on the environment, reduced carbon footprint, and compatibility with ecotoxic formulations, matting agents are becoming increasingly popular.
Get a glance at the market contribution of various segments View the PDF Sample
The organic segment was the largest segment and was valued at USD 286.69 million in 2017. Consumers are increasingly drawn to products and coatings that boast eco-friendly and non-toxic attributes. As a result of this demand, organic alternatives have become more and more sought by manufacturers to address this increasing market segment. Moreover, the versatility of organic matting agents is noteworthy. As the global emphasis on sustainability continues to shape various industries, the organic segment of the global matting agents market is expected to expand further during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The matting agents market in the APAC region is currently experiencing dynamic growth, driven by several key factors that highlight the region's increasing significance in global coatings and related industries. One of the primary drivers propelling the matting agents market in APAC is the rapid expansion of industries such as automotive, construction, and electronics.
Moreover, a broad range of paints with a variety of glosses and surface finishes is needed in these sectors. Matting agents are essential components in achieving the desired visual and tactile effects in these coatings, leading to increased demand for these products. As a result, they are able to address these requirements through the availability of matting agents which allow for different finishes such as glossy or matte, thus meeting the diverse preferences of consumers. The environmental consciousness prevalent in APAC is also influencing the matting agents market in APAC. Such factors will increase the market growth during the forecast period.
The matting agents market in APAC experienced a negative impact due to the outbreak of the COVID-19 pandemic in 2020. However, in 2021, with the initiation of widespread vaccination drives and the gradual containment of the virus, the matting agents market in APAC embarked on a path to recovery. As industries began operating again and economic activities increased in the rebound, there was a resurgence in demand for coatings in sectors like construction, automotive, electronics, and furniture. Furthermore, the increasing consumer preference for premium and customized products is anticipated to fuel the demand for coatings with specific aesthetic qualities during the forecast period.
The matting agents market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Matting Agents Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.99% |
Market growth 2023-2027 |
USD 314.71 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.55 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, Japan, Germany, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akzo Nobel NV, Arkema Group, Axalta Coating Systems Ltd., Baltimore Innovations Ltd, BASF SE, Berkshire Hathaway Inc., CHT Germany GmbH, Deuteron GmbH, Evonik Industries AG, Huntsman International LLC, Imerys S.A., J M Huber Corp., Michelman Inc., PPG Industries Inc., PQ Group Holdings Inc., Standard Industries Inc., and Thomas Swan and Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.