Market Size of Matting Agents Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.23 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Matting Agents Market Analysis
The Matting Agents Market size is expected to grow from USD 558.65 million in 2023 to USD 654.82 million by 2028, at a CAGR of 3.23% during the forecast period.
The market was negatively impacted due to COVID-19. Owing to the pandemic scenario, several countries around the world went into lockdown to curb the spread of the virus. The shutdown of numerous coatings companies and factories disrupted worldwide supply networks and harmed global production, delivery schedules, and product sales. Currently, the market has recovered from the COVID-19 pandemic and increasing at a significant rate.
- In the medium term, the major factors driving the market studied are the increasing demand for matting agents for architectural coatings and superior properties to gloss finishes.
- On the flip side, regulations related to solvent-based matting agents are likely to restrain market growth.
- Growing demand for bio-based matting agents is likely to act as an opportunity for the market in the coming years.
- Asia-Pacific accounted for the highest market share, and the region is likely to dominate the market during the forecast period.
Matting Agents Industry Segmentation
Matting agents are used to modify the surface characteristics of paints, varnishes, and inks by floating them to the top of the surface. They may additionally provide further mechanical features, although their main purpose is to decrease the shine on the surface.
The Matting Agents Market is segmented by Material Type (Silica, Thermoplastic, Wax-based, and Other Material Types), Application (Coatings (Architectural Coatings, Automotive Coatings, Industrial Coatings, Wood Coatings, and Other Coatings), Printing Inks, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for the matting agents market in value (USD million) for all the above segments.
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Matting Agents Market Size Summary
The matting agents market is poised for growth, recovering from the setbacks caused by the COVID-19 pandemic, which had disrupted supply chains and affected production and sales globally. The market is driven by the increasing demand for matting agents in architectural coatings, which offer superior properties to gloss finishes. However, regulatory challenges concerning solvent-based matting agents may hinder market expansion. The rising interest in bio-based matting agents presents a significant opportunity for future growth. The Asia-Pacific region, particularly China and India, is a dominant force in the market, supported by the burgeoning coatings and printing ink industries. This region's robust industrial activity is expected to sustain its leading position throughout the forecast period.
The application of matting agents in wood coatings is gaining traction, as they provide a desirable less glossy finish and enhance aesthetic appeal. The demand for high-performance waterborne and wood coatings is driving the use of matting agents, which offer benefits such as scratch and UV resistance, and excellent surface leveling. The growth of the housing industry and rising disposable incomes are further propelling the wood coatings market, with the furniture segment being a major contributor. Key industry players, including The Sherwin-Williams Company and Gemini Coatings, are actively investing in this segment to enhance their market presence. The partially consolidated nature of the market sees major companies like Imerys SA, PPG Industries Inc., and Evonik Industries AG introducing innovative products and expanding production capacities to meet the increasing demand, particularly in Asia-Pacific.
Matting Agents Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for Matting Agents for Architectural Coatings
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1.1.2 Superior Properties than Gloss Finishes
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1.2 Restraints
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1.2.1 Regulation Related to Solvent-based Matting Agents
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Material Type
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2.1.1 Silica
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2.1.2 Thermoplastic
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2.1.3 Wax-based
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2.1.4 Other Material Types
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2.2 Application
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2.2.1 Coatings
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2.2.1.1 Architectural Coatings
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2.2.1.2 Automotive Coatings
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2.2.1.3 Industrial Coatings
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2.2.1.4 Wood Coatings
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2.2.1.5 Other Coatings
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2.2.2 Printing Inks
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2.2.3 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Matting Agents Market Size FAQs
What is the current Matting Agents Market size?
The Matting Agents Market is projected to register a CAGR of 3.23% during the forecast period (2024-2029)
Who are the key players in Matting Agents Market?
Imerys SA, PPG Industries Inc., Evonik Industries AG, Hunstman International LLC and W. R. Grace & Co.-Conn. are the major companies operating in the Matting Agents Market.
