The Matting Agents Market is projected to grow at a CAGR of 5.8% from 2024 to 2031. The market value is expected to increase from XX USD in 2024 to YY USD by 2031. Asia-Pacific emerges as the dominant region, driven by rapid industrialization and growing demand from end-use industries. Key metrics include increasing demand for low-gloss finishes, stringent regulations on VOC emissions, and technological advancements in matting agent formulations.
The market is quickly developing because to increased demand for matte finishes in a wide range of applications, including automotive coatings, furniture, and packaging. The increasing emphasis on aesthetics and usability in consumer goods is expected to drive market expansion in the next years.
Market Trend: Growing demand for eco-friendly and sustainable matting agents
The matting agents sector is making significant progress towards the development and acceptance of ecologically benign and sustainable products. This shift is being fuelled by rising environmental awareness, tighter limits on volatile organic compound (VOC) emissions, and a growing customer preference for green products.
Manufacturers are working to develop bio-based matting agents made from sustainable resources such as cellulose and agricultural leftovers. These environmentally friendly alternatives offer comparable performance to traditional synthetic matting agents while reducing environmental impact. For example, a prominent matting agent business reported a 25% rise in bio-based matting agent sales in 2023 over the previous year.
Furthermore, water-based matting agent technologies are gaining favour because to their low VOC content and reduced environmental impact. According to industry experts, the market share of water-based matting agents will increase from 37% in 2021 to 43% in 2024, indicating a clear shift towards more environmentally friendly alternatives.
This trend is changing not only product development strategies, but also purchasing decisions across a wide range of end-use industries, especially in countries with severe environmental regulations, such as Europe and North America.
Market Driver: Increasing demand for low-gloss and soft-touch finishes in consumer goods
The matting agents market is being driven by an increased customer preference for low-gloss and soft-touch finishes on a variety of items. This trend is notably noticeable in industries such as automotive, furniture, electronics, and packaging, where aesthetics and tactile attributes are important for product appeal and differentiation.
Matte surfaces are gaining popularity in the automotive industry, both inside and out. According to an International Organisation of Motor Vehicle Manufacturers survey, matte finishes in automotive coatings increased by 18% between 2021 and 2023. This trend is being driven by consumer demand for unique and complicated vehicle designs.
Similarly, in the furniture industry, low-gloss finishes with a natural, high-end appearance are gaining popularity. The European Federation of Furniture Manufacturers reported a 15% increase in demand for matte-finished furniture products in 2023 over 2021.
Matte coatings are increasingly becoming popular in the electronics industry, particularly for smartphones, laptops, and home appliances. According to industry research, 65% of consumers prefer matte-finished electronic devices over glossy ones, citing reduced fingerprint visibility and a more premium feel.
The increasing demand for low-gloss and soft-touch surfaces in various consumer goods industries is driving the use of matting agents, which are required to achieve these desired surface properties.
Market Restraint: Challenges in maintaining consistent performance across different applications
One of the most difficult challenges for the matting agent industry is maintaining consistent performance over a wide range of applications and surfaces. The efficiency and look of matting agents can be significantly influenced by various coating formulas, application processes, and ambient conditions.
For example, the performance of matting agents varies depending on the binder used in the coating system. According to a study published in the Journal of Coatings Technology and Research, using specific high-solid binders reduced the efficiency of silica-based matting agents by up to 30% when compared to traditional solvent-based systems.
Furthermore, maintaining a uniform matte finish can be particularly difficult in large surface areas or complex geometries. Inconsistent film thickness or uneven distribution of matting agents can result in gloss level discrepancies, affecting the overall quality and look of the finished product.
The necessity for thorough formulation expertise and application-specific customisation typically results in increased development costs and longer product development cycles. According to industry surveys, coating manufacturers spend an average of 15-20% more time producing formulas with matting agents than with standard gloss coatings.
These performance consistency difficulties may restrict the use of matting agents in high-performance applications or industries with stringent quality requirements, inhibiting market growth to some extent.
The silica-based matting agents segment dominates the market, driven by superior performance and versatility across various applications.
The silica-based matting agents sector holds the largest market share in the matting agents industry, accounting for approximately 60% of total market value. This dominance is primarily owing to silica-based matting agents' superior performance characteristics, which include high efficiency, excellent transparency, and compatibility with a wide range of coating systems.
Recent technological developments have hastened the silica segment's expansion. For example, the use of surface-treated silica particles has solved one of the key issues with traditional silica matting agents: settling and flotation in liquid coatings. These novel surface-modified silicas offer improved dispersion stability and a uniform matting effect. According to a report from a prominent silica manufacturer, sales of surface-treated silica matting agents increased by 22% in 2023 over the previous year.
Furthermore, the silica category has benefited from increased demand for high-performance coatings in industries like automotive and electronics. Silica-based matting agents are highly scratch resistant and long-lasting, making them ideal for applications requiring both aesthetic appeal and functional performance. A study published in the European Coatings Journal discovered that silica-based matting agents improved the scratch resistance of car clear coatings by up to 40% when compared to non-matted counterparts.
The versatility of silica-based matting agents to different coating processes has also helped them dominate the industry. These agents function well in water-based, solvent-based, and UV-cured systems, allowing manufacturers to use a single matting solution across numerous product lines. This versatility is especially crucial as the industry moves towards more ecologically friendly coating technologies.
Furthermore, the silica market has seen progress in particle size and morphological control. Manufacturers have developed silica matting agents with optimised particle size distributions, resulting in a greater mix of matting efficiency and other coating properties such as transparency and tactile feel. For example, a new generation of hollow silica particles introduced in 2023 claimed to be 15% more efficient at the same loading level than present silica matting agents.
The market has also seen the introduction of hybrid silica-based matting agents, which combine the benefits of several materials. These hybrid goods, which typically incorporate organic polymers or other inorganic particles, boost performance in specific applications. According to industry sources, sales of hybrid silica matting agents have climbed by 18% per year over the last three years, indicating a strong market acceptability.
Dominating Region: Asia-Pacific leads the matting agents market, driven by rapid industrialization and growing demand from end-use industries.
Asia-Pacific has emerged as the dominant force in the global matting agents industry, accounting for more than 40% of the market. This supremacy could be attributed to a number of causes, including the region's rapid industrialisation, robust construction industry, and increased consumer goods output.
China, in particular, has a huge impact on the region's market leadership. According to the National Bureau of Statistics of China, manufacturing production increased by 5.6% in 2023 compared to the previous year. This rapid industrial expansion has raised demand for matting agents in a wide range of applications, including industrial coatings, wood finishes, and automotive coatings.
The region has also seen significant investment in advanced matting agent research and development. For example, in 2023, a large Japanese chemical producer announced a $50 million investment in a new R&D facility dedicated to the development of next-generation coating additives such as high-performance matting agents. This investment aims to meet the growing need for new matting solutions in Asia-Pacific and beyond.
Furthermore, the increasing growth of the automotive sector in countries such as China, India, and South Korea has fuelled the matting agents market. The International Organisation of Motor Vehicle Manufacturers predicts that Asia-Pacific would account for 55% of global car manufacture by 2023. The growing customer desire for matte and satin finishes in automotive coatings has driven up demand for matting agents in this industry.
The construction boom in Asia-Pacific has had a significant impact on the matting agents industry. Countries such as China, India, and Southeast Asia are undergoing substantial infrastructure and urbanisation projects. China State building Engineering Corporation reported a 7.2% increase in new building projects for 2023. This growth in construction activity has led to a greater demand for architectural coatings, in which matting agents play a significant role in obtaining ideal aesthetic and functional properties.
Furthermore, the region's electronics manufacturing sector, particularly in South Korea, Japan, and Taiwan, is a significant user of matting agents. The growing popularity of matte surfaces in consumer electronics, such as smartphones and laptops, has created a desire for high-performance matting agents that can provide both aesthetic appeal and functional benefits, such as fingerprint protection.
The Asia-Pacific region has also been in the forefront of using eco-friendly coating technology. This shift towards sustainable solutions has created opportunities for manufacturers of bio-based and low-VOC matting agents. For example, a Singapore-based coating additives producer reported a 30% year-on-year increase in sales of plant-based matting agents in 2023, driven primarily by Asian market demand.
The matting agents industry is characterised by intense competition among major players, with a focus on product innovation, technological advancements, and strategic alliances. Leading organisations in this area are heavily spending in R&D to enhance their product offerings and maintain market positions.
Evonik Industries AG, a major player in the matting agents industry, has seen significant growth in its coating additives sector, with revenues increasing by 5.8% in 2023. The company's success can be attributed to its focus on manufacturing high-performance silica-based matting agents for a wide range of applications, including automotive and industrial coatings.
Another prominent player, PPG Industries, Inc., has expanded its portfolio of matting agents through strategic acquisitions and collaborations. The company's recent collaboration with a leading nanotechnology company to develop novel nano-structured matting agents has strengthened its position in the high-performance coatings market. PPG reported a 4.2% increase in performance coatings sector revenue in the prior fiscal year.
Deuteron GmbH has made significant progress in the development of environmentally friendly matting agents. The company's line of bio-based matting agents derived from renewable resources has gained favour in the market, especially in places with stringent environmental regulations. Deuteron has announced a 7.5% increase in their sustainable additives portfolio for 2023.
Arkema S.A. has focused on increasing its global presence and strengthening its product offerings through innovation. The company's recent development of a new line of high-efficiency wax-based matting agents for powder coatings has been well received by the market. Arkema's coating solutions sector experienced 3.8% organic sales increase in the preceding fiscal year.
In terms of market share, the top five players own more than 45% of the global matting agents market. However, the sector is seeing the emergence of new companies, particularly in the field of bio-based and nano-structured matting agents, which is expected to boost competition in the coming years.
The matting agents market is estimated to expand at a 5.8% CAGR between 2024 and 2031. Rising demand for low-gloss finishes in a number of end-use industries, technological advancements in matting agent formulations, and an increased emphasis on ecologically responsible coating solutions are all key growth drivers.
The matting agents market is poised for significant development and change in the coming years, thanks to technology advancements and increasing client preferences. One of the most exciting developments in this market has been the introduction of multi-functional matting agents that offer performance benefits in addition to gloss reduction.
These novel matting compounds are being developed to improve scratch resistance, tactile sensation, and even antibacterial action. For example, some manufacturers are looking at using nanoparticles in matting treatments to create surfaces that are not just matte, but also self-cleaning or fingerprint-resistant. This trend towards multifunctionality is expected to broaden matting agents' application areas and improve their value proposition across a wide range of industries.
Another noticeable trend is the increased emphasis on matting agents designed specifically for emerging coating technologies such as UV-cured and powder coatings. As these coating systems gain market domination due to their environmental and performance advantages, there is a growing demand for matting agents that can function effectively in these unique curing conditions. Manufacturers who can design matting solutions for these complex coating technologies are projected to have a substantial competitive edge in the industry.
Customising matting agents for specific end-use applications is becoming a significant market differentiator. With advancements in particle engineering and surface modification techniques, manufacturers may now tailor the properties of matting agents to meet the specific needs of different industries or even individual consumers. This trend towards application-specific matting solutions is particularly essential in high-value industries such as automotive and electronics, where performance standards are becoming increasingly stringent.
Finally, the continued adoption of circular economy ideas is expected to have a significant impact on the matting agent industry. There is a growing interest in generating matting agents that are not only generated from sustainable sources but also help with the recyclability and end-of-life management of coated objects. Innovations in this field, such as matting agents that can be easily separated from coating matrices during recycling procedures, have the potential to greatly enhance the overall sustainability profile of the coatings industry.
Evonik Industries AG
PPG Industries, Inc.
Deuteron GmbH
Arkema S.A.
W. R. Grace & Co.-Conn.
BYK Additives & Instruments (Altana)
Imerys S.A.
Huntsman International LLC
Michelman, Inc.
Huber Engineered Materials
September 2023: Evonik Industries AG introduced a new line of bio-based silica matting agents to address the European market's growing need for environmentally friendly coating additives.
In February 2024, PPG Industries, Inc. signed a strategic deal with a major automaker to develop innovative matting solutions for next-generation electric vehicle coatings.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Evonik Industries AG
5.2. PPG Industries, Inc.
5.3. Deuteron GmbH
5.4. Arkema S.A.
5.5. W. R. Grace & Co.-Conn.
5.6. BYK Additives & Instruments (Altana)
5.7. Imerys S.A.
5.8. Huntsman International LLC
5.9. Michelman, Inc.
5.10. Huber Engineered Materials (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Growing demand for eco-friendly and sustainable matting agents
6.1.2. Development of multi-functional matting agents
6.1.3. Increasing focus on application-specific matting solutions
6.2. Market Drivers
6.2.1. Increasing demand for low-gloss and soft-touch finishes in consumer goods
6.2.2. Rapid industrialization and growth in end-use industries
6.2.3. Technological advancements in matting agent formulations
6.3. Market Restraints
6.3.1. Challenges in maintaining consistent performance across different applications
6.3.2. Volatility in raw material prices
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2024-2031)
7.1. Silica
7.1.1. Precipitated Silica
7.1.2. Fumed Silica
7.1.3. Silica Gel
7.2. Waxes
7.2.1. Natural Waxes
7.2.2. Synthetic Waxes
7.3. Thermoplastics
7.4. Others
8. BY TECHNOLOGY (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2024-2031)
8.1. Water-based
8.2. Solvent-based
8.3. Powder-based
9. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2024-2031)
9.1. Industrial Coatings
9.2. Wood Coatings
9.3. Leather Coatings
9.4. Architectural Coatings
9.5. Others
10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2024-2031)
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. South America
10.2.1. Brazil
10.2.2. Argentina
10.2.3. Rest of South America
10.3. Europe
10.3.1. Germany
10.3.2. United Kingdom
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Russia
10.3.7. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia
10.4.5. South Korea
10.4.6. Rest of Asia-Pacific
10.5. Middle-East
10.5.1. UAE
10.5.2. Saudi Arabia
10.5.3. Turkey
10.5.4. Rest of Middle East
10.6. Africa
10.6.1. South Africa
10.6.2. Egypt
10.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2024-2031)
By Type:
Silica
Waxes
Thermoplastics
Others
By Technology:
Water-based
Solvent-based
Powder-based
By Application:
Industrial Coatings
Wood Coatings
Leather Coatings
Architectural Coatings
Others
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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