Matting Agents Market is Expected to Reach USD 848.8 million by 2031, with an annual growth rate of more than 5.3% | Report by Transparency Market Research, Inc.
The impact of digitalization and Industry 4.0 will increase the popularity of matting agents.
Wilmington, Delaware, United States, Feb. 02, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The matting agents market accounted for US$ 534.8 million in 2022. The market is estimated to increase at a CAGR of 5.3% from 2023 to 2031, reaching US$ 848.8 million by 2031. Research and development will allow sophisticated matting agents to be released with improved qualities. In addition to matte finishes, manufacturers can create goods that are scratch-resistant, durable, and easier to apply.
Matting agents are expected to find new uses in niche markets and developing industries. The growing demand for specialized coatings and surface finishes in sectors like 3D printing, renewable energy, and electric cars may necessitate the development of novel matting agent solutions. Future growth in the matting agents market will depend on the industry’s ability to adjust to the changing environment of industrial applications.
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The market for matting agents may be impacted by incorporating digital technology and Industry 4.0 techniques into production processes. Digitalization can help production processes run more smoothly, increase productivity, and allow specially formulated products to satisfy industry demands. Manufacturers of matting agents may need to adjust to new production techniques and quality assurance procedures when businesses adopt smart manufacturing practices.
Global Matting Agents Market: Key Players
Several industries, such as furniture packaging and electronics, rely on coating defoamers and anti-gloss agents developed by leading suppliers of matt agents. Collaboration, mergers, and acquisitions within the industry are key strategies for maintaining a strong position.
- Evonik Industries AG
- PPG Industries Inc.
- Huntsman International
- W. R. Grace & Co.-Conn.
- J.M. Huber Corporation
- Imerys S.A.
- PTT Global Chemicals
- Arkema Group
- Akzo Nobel N.V.
- The Lubrizol Corporation
- PQ Corporation
- Axalta Coating Systems
- Michelman, Inc.
- Quantum Silicon Inc.
- Toyobo Co. Ltd.
Key Developments
- In October 2022, Evonik expanded its Taiwan manufacturing facility’s capacity for ACEMATT precipitated matting agents in its Coating Additives business line. By the second half of 2023, the capacity expansion was expected to help meet the growing demand for matting agents in Asia.
- In February 2023, W. R. Grace & Co. participated in CHINACOAT 2022 in Guangzhou. A series of innovative, high-performance, eco-friendly solutions were presented under the theme “Green Industrial Coating Solutions,” including the SHIELDEX® Anti-Corrosion Pigments, the SYLOID® Silica Matting Agent, the LUDOX® Colloidal Silica, the SYLOWHITETM Titanium Dioxide Extender, and the SYLOSIV® Moisture Scavenger.
Key Findings of the Market Report
- Based on product type, the silica segment is likely to drive demand for the matting agent market.
- In terms of technology, the water-based matting agent is expected to create new opportunities in the future.
- The market for industrial coatings will see a high demand for matting agents.
- According to the forecast, Europe’s market will grow steadily for the next few years.
- Asia Pacific will account for a significant share of the market in 2024.
Global Matting Agents Market: Growth Drivers
- The rising need for superior surface finishes across various end-use sectors, including adhesives, printing inks, paints, and coatings. By adding a matte or dull finish, lowering gloss levels, and enhancing overall visual appeal, matting agents are essential for obtaining the required surface appearance. The need for matting agents keeps growing as businesses concentrate on improving the aesthetic attractiveness of their goods.
- Environmental restrictions and the increased emphasis on eco-friendly and sustainable products also drive the market for matting agents. Due to their low volatile organic compound (VOC) content and environmental friendliness, many matting agents comply with strict environmental regulations.
- The need for matting agents that support these sustainability objectives is rising as manufacturers are forced to implement eco-friendly solutions due to increased regulatory pressure on a global scale.
- The quick expansion of sectors like packaging, furniture, and automobiles further fuels the market for matting agents. Consumers demand specialized coatings and finishes in these industries to achieve high levels of beauty, durability, and performance. In these applications, matting agents are often used to produce visually appealing and long-lasting surfaces, improving the overall caliber and lifespan of the products.
Global Matting Agents Market: Regional Landscape
- Asia Pacific is expected to lead the market for matting agents. Countries like China and India are becoming increasingly urbanized and industrialized. Several industries, including furniture, automotive, and construction, are increasing their demand for paints, coatings, and other surface finishing goods.
- The quality and appearance of completed goods are becoming increasingly important as middle-class and consumer preferences change, driving up demand for matting agents.
- Asia Pacific has one of the fastest-growing automotive industries globally. The demand for cars is rising due to shifting lifestyles and rising disposable income. Matting agents are essential in vehicle coatings because they offer aesthetic and practical advantages.
- They provide durability and scratch resistance while improving the appearance of surfaces inside and outside the home. Matting agents are predicted to be in high demand as long as the automobile industry in nations like China and India keeps growing.
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Global Matting Agents Market: Segmentation
By Biomaterial
- Bioabsorbable Polymer-based Stents
- Bioabsorbable Metallic Stents
By Application
- Coronary Artery Disease
- Peripheral Artery Disease
By Absorption Rate
- Slow Absorption Rate
- Fast Absorption Rate
By End User
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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