Newark, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 510.0 million matting agents market will reach USD 792.0 million by 2032. Matting agents are additives mixed with coatings and paints to give the substrate a matte finish. When combined with paints and coatings, matting chemicals scatter approaching light along these lines, giving the ideal surface a matte appearance. Furthermore, the stronger the matting effect, the higher the dose of matting ingredient in the paint. Matting agents with smaller particle sizes produce a lower matte effect than matting agents with bigger particle sizes. Matting agents are classified into waxes, silica, and chemical compounds. Silica gel matting agents are frequently employed in the coatings industry for matting purposes, and they are highly efficient in producing the type of surface roughness that causes mattresses to appear.
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Asia Pacific to account for the largest market size during the forecast period.
Asia Pacific is expected to have the essential matting agents’ market share. The automobile sector also expands in this region, with increased production and investment in nations such as India, Japan, China, Indonesia, and Thailand. According to the International Organisation of Motor Vehicle Manufacturers (OICA), Asia Pacific countries such as China, Japan, India, and South Korea were ranked first, third, fifth, and ninth in terms of total vehicles sold in 2020, with 25 million, 4.598 million, 2.938 million, and 1.9 million, respectively. According to the International Organisation of Motor Vehicle Manufacturers, vehicle sales fell 13.8% in 2020 compared to 2019.
The silica segment dominated the market with the most significant revenue of USD 198.9 million.
The silica segment dominated the market with the most significant revenue of USD 198.9 million. Silica matting agents are used in various coatings, including industrial, architectural, automotive, and wood, to give a matte or satin surface with exceptional scratch resistance, adhesion, and durability. They are also used in plastics, personal care products such as sunscreen and cosmetics, and printing inks.
The architectural coatings segment dominated the market with the most significant revenue of USD 219.3 million.
The architectural coatings segment dominated the market with the most significant revenue of USD 219.3 million. Mattifying chemicals are widely used in architectural coatings to give a matte or satin finish that is aesthetically pleasing and conceals surface defects. Architectural coatings protect and adorn interior and exterior surfaces such as walls, ceilings, and facades. They can be applied to various substrates such as concrete, wood, metal, and plaster.
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Market Dynamics:
Drivers: Rapid Urbanization
The infrastructure and construction sectors are expanding as the demand for residential houses in developing countries such as India and China rises due to large populations and rapid urbanization; many people are moving to cities, increasing the demand for residential and commercial construction in cities. Major construction projects are underway in Asia-Pacific, with major multinational corporations (MNCs) establishing themselves in China, India, South Korea, and other areas of the region, such as Samsung, which opened its largest manufacturing plant in India. The Smart City Mission in India and other similar programmes are boosting the market for Intumescent Coatings.
Restraint: Environmental Laws
Inadequate raw material demand, rigorous regulatory environmental laws on end-use sectors, and supply due to the lockout and volatility in their prices will all represent significant challenges to market expansion. High costs connected with R&D capabilities, growing import and export levies, and rigorous global trade prohibitions will slow industry expansion.
Opportunity: Rising of the Automobile Sector
The automobile sector also expands in this region, with increased production and investment in nations such as India, Japan, China, Indonesia, and Thailand. According to the International Organisation of Motor Vehicle Manufacturers (OICA) research, Asia Pacific countries such as China, Japan, India, and South Korea will have 25 million, 4.598 million, 2.938 million, and 1.9 million automobiles in 2020, respectively. In 2020, the total number of automobiles sold was 52.6 million units. In 2020, the United States placed second with 14.45 million automobiles sold. According to the International Organisation of Motor Vehicle Manufacturers, vehicle sales fell 13.8% in 2020 compared to 2019.
Challenge: Alternatives
Intense price rivalry from Chinese manufacturers and the widespread availability of alternatives in the market will limit the market's potential for growth.
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Some of the major players operating in the matting agents market are:
● Evonik Industries
● PPG Industries
● Huntsman Corporation
● Imerys Minerals Ltd.
● W.R. Grace and Company
● J. M. Huber Corporation
● BYK Additives & Instruments
● Akzonobel
● Arkema
● Lubrizol.
Key Segments cover in the market:
By Product:
● Silica
● Wax-based
● Thermoplastic
By Application:
● Architectural Coatings
● Automotive Coatings
● Packaging Coatings
● Industrial Coatings
● Leather Coatings
● Printing Inks
● Textile Coatings
● Wood Coatings
● Others
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About the report:
The global matting agents market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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