The global matting agents market has been witnessing continuous technology and product development by the market players. According to a report by Transparency Market Research, the market for matting agents will experience expansion of product portfolio. The manufacturers are focusing on developing new strategies to increase the diversification of the market. Some of the leading companies in the market are Akzo Nobel N.V., The Lubrizol Corporation, Axalta Coatings Systems LTD., Huntsman International LLC, PPG Industries, Inc., W.R. Grace & Co., and Evonik Industries Ag.
The global matting agents market is anticipated to rise at a CAGR of 5% during the forecast period of 2017 to 2025. The market was valued at US$540 mn during 2016 and is expected to rise during the forecast period. According to technology, water based matting agents leading the market and is expected to increase by the end of 2026. Asia pacific held the larger share in the market during 2016 by holding 25% of the total share. This region is expected to rise during the forecast period due to rise in infrastructural and economic development in countries such as India, Indonesia, China, and Vietnam.
Rise in Architectural Coating to Increase Demand for Matting Agents in the Market
Matting agents are increasing in demand due to rise in demand for coil and wood coatings. These are the major applications of matting agents market. Matting agents have also increased demand in architectural and industrial coatings. Properties of matting agent is to provide matt finish along with soft feel. They also improve the properties of the surface, mar resistance, and slip of the material they are applied on. Matting agents are gaining popularity due to consumer’s demand for soft feel or haptic effects. Matting agents improve the desirability of architectural coating by improving its rub, scuff, and slip resistance in architectural coating.
Thus the demand for matting agents are gaining popularity in the market. The demand for matting agents are rising due to increased architectural and industrial coating. This segment is rising significantly because the demand for excellent surface properties are in demand by the consumers. Diatomaceous earth is rising in popularity for base material of matting agents. Producers are developing a low cost and eco-friendly matting agent with the help of diatomaceous. The government policies and stringent regulations have led in rise of eco-friendly matting agents. The rise in awareness among consumers regarding the environment has also fueled the growth of eco-friendly matting agents in the market.
This rise in demand is leading to rise of new players to enter the market by providing cost effective eco-friendly matting agents
Increased UV Cure Coating Likely to Hamper the Market Growth
Increase in demand for UV cure coatings is anticipated to affect the matting agents market during the forecast period. The end users are shifting their preference from matting agents to UV cure coatings due to the benefits it provides. Matting agents have several issues as compared to compatibility of UV cure coating therefore it cannot be added to the UV cure coating. Doing so will decrease the efficiency of matting agents.
Therefore, there is increased demand for UV coatings in the market. Matting agents also emit VOC in higher film shrinkage and solvent based technology. Matting agents have presence of high solid coarse particles and lack evaporation process. Matting agents also have inconsistency during action and lower cure speed. This will further lead to hamper of growth in the market during the forecast period.