The global matting agents market is anticipated to reach USD 1.05 billion by 2025, according to a new report by Grand View Research, Inc. The growth of global paints and coatings industry coupled with its usage in industrial and architectural applications is expected to fuel the market growth over the forecast period.
Matting agents alter the surface properties of an application, resulting in diffusion of incident light. These phenomena result in gloss reduction thus causing matting effect. They are available in various forms such as powders, dispersions, compounds and blends thus facilitating their easy usage.
The additives impart an authentic look to the surface. Furthermore, they can exhibit properties such as scratch, weathering, and water resistance to the coatings. Such inherent advantages are expected to result in market growth globally. Strong demand for industrial applications in emerging countries such as China and India is expected to benefit the overall market growth.
Silica-based products occupied a major market share in 2015. Companies have developed products which can be used in conjunction with organic type such as waxes, to enhance the product performance. Major market participants are maintaining modern laboratories to carry out R&D activities for product development. Also, efforts are being taken by companies in the development of technical partnerships with its customers.
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Further key findings from the study suggest:
- Matting agents have little effect on rheology, viscosity, and elasticity, provides good haptic properties and imparts a smooth feel to the surface. Thus these advantages are expected to contribute to a rise in market demand.
- Demand from powder coating formulation is expected to witness the highest estimated CAGR of 6.0% from 2016 to 2025. This formulation type is witnessing a demand rise due to its cost effectiveness thus benefitting the market growth for matting agents.
- Architectural coatings application segment dominated the market in 2015 and is expected to witness a CAGR of 5.5% from 2016 to 2025.
- In terms of volume, Asia Pacific region had the highest penetration in 2015.Increasing industrialization in the region is expected to contribute significantly to the global matting agents market demand.
- Major industry participants include PPG, Deuteron, W.R. Grace & Co., Huber Engineered Materials, and Evonik Industries among others