Global Matting Agents Market is segmented By Product Type (Silica, Thermoplastic, Wax-Based), By Technology (Water-Based, Solvent-Based, UV, Others), By Application (Architectural Coatings, Automotive Coatings, Packaging Coatings, Industrial Coatings, Leather Coatings, Printing Coatings, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Matting Agents Market Overview
The Global "Matting Agents market" is predicted to reach a CAGR of 5.41% during the forecast period (2024-2031).
Matting agents are additives that are mixed with coatings and paints to provide a matte finish to the product.
They scatter the incoming light and are used with architectural coatings, automobile coatings, packaging coatings, etc. They are divided into water-based, solvent-based, and UV-based based on the technology used.
Matting Agents Market Summary
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Metrics |
Details |
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Market CAGR |
5.41% |
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Segments Covered |
By Product Type, By Technology, By Applications and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Matting Agents Market Dynamics
The major factors driving the Global Matting Agents market are the rapid urbanization and industrialization and the growth of the construction industry and automobile industry.
The rapid urbanization and the growth of the construction industry are driving the market growth of Matting Agents.
There is a growth in the infrastructure and construction sectors as the demand for residential houses in developing countries like India and China is increasing due to large population and rapid urbanization, many people are moving to urban areas which increases the demand for residential and commercial construction in urban areas. Many construction projects are going on in Asia-pacific like many MNCs are establishing in China, India, South Korea and other parts of the region like Samsung established their biggest manufacturing plant in India. Smart city's mission in India and many such projects are also driving the market of Intumescent Coatings. In the Smart Cities Mission, 100 cities were selected and the mission was allotted INR 6,450 crore in the 2021-2022 budget and INR 3,400 crore in 2020-21.
The growth in the industrial and automobile sectors are driving the market growth of Matting Agents
The Automobile sector is also growing in this region as there is an increase in production and investments in the countries like India, Japan, China, Indonesia and Thailand. According to the International Organization of motor vehicles manufacturers (OICA) report, the Asia Pacific countries like China, Japan, India, South Korea were ranked 1, 3, 5, 9 with 25 million, 4.598 million, 2.938 million, and 1.9 million respectively in 2020. The total number of cars sold was 52.6 million units in 2020. The USA was ranked 2 in terms of cars sold 14.45 million in 2020. According to the International Organization of Motor Vehicle Manufacturer’s report car sales dropped in 2020 by 13.8% in comparison to 2019.
The high volatile organic compounds (VOC) emissions involved with matting agents, fluctuating raw material prices, and lower cure speed are hampering the market growth of Global Matting Agents
COVID-19 Impact on Matting Agents Market
The COVID-19 pandemic has affected many industries due to the disruption in the supply chain, as there were full or partial lockdowns in many countries of the world and restrictions across borders and closure of airports hampered world trade. The automobile sector was also severely affected due to covid-19 as there was disruption of the supply chain and people preferred health over their jobs. Companies couldn’t operate with proper covid norms. It was also difficult for staff and workers to work with social distancing norms. According to the International Organization of Motor Vehicle Manufacturer’s report car sales dropped in 2020 by 13.8% in comparison to 2019. Due to the fewer vehicles sold during the covid-19 pandemic the market of Matting Agents declined.
The demand from the construction sector declined as many projects were delayed due to the lockdown restrictions and also the demand for the construction of residential houses was less as people preferred health over other non-essential services and there was a shortage of workers and laborers as well and there was less migration due to travel restrictions and According to the report in 2020, total migrants in Europe and North America were close to 87 million and 58 million respectively.
Matting Agents Market Segment Analysis
The Global Matting Agents Market is segmented based on the Product Type, Technology, Application, and Region.
Based on the Product Type, the Global Matting Agents market is segmented into Silica, Thermoplastic, and Wax-based.
Based on the Technology, the Global Matting Agents market is segmented into Water-Based, Solvent-Based, UV, and others.
Based on the Application, the Global Matting Agents market is segmented into Architectural Coatings, Automotive Coatings, Packaging Coatings, Industrial Coatings, Leather Coatings, Printing Coatings and Others (Wood Coatings, Textile coatings).
The Architectural Coatings segment was valued at US$ XX billion in 2020 and a growth in market size is predicted leading to a market size worth US$ XX billion by 2028, growing at a CAGR of XX% during the forecast period (2021-2028). It is expected that the Architectural coatings segment will grow in the future due to the high growth in the infrastructure and coating industry. Matting agents help to increase temperature and corrosion resistance. There is growth in the infrastructure and construction sectors as the demand for residential houses in developing countries like India and China is increasing due to large population and rapid urbanization, many people are moving to urban areas which increases the demand for residential and commercial construction in urban areas. Matting agents are also used in paints&coatings to reduce the brightness due to the reflected light and allows more light to pass instead of reflecting. Architectural coatings are used in the application on the walls and other external and internal parts of commercial and residential houses and buildings. They are also used in sculptures, furniture, paintings etc.
Matting Agents Market Geographical Share
Based on the Region, Global Matting Agents Market is segmented as - North America, Europe, Asia-Pacific, The Middle East, Africa, and South America.
The Asia-pacific region had a market share of XX% in 2020 and is expected to hold XX% by 2028. The Asia Pacific has the highest market share among all the regions as there is rapid growth in industrialization and urbanization in this region. There is also growth in the infrastructure and construction sectors as the demand for residential houses in developing countries like India and China is increasing due to large population and rapid urbanization, many people are moving to urban areas which increases the demand for residential and commercial construction in urban areas. Many construction projects are going on in Asia-pacific like many MNCs are establishing in China, India, South Korea and other parts of the region like Samsung established their biggest manufacturing plant in India. Smart cities' mission in India and many such projects are also driving the market of Intumescent Coatings. In the Smart Cities Mission, 100 cities were selected and the mission was allotted INR 6,450 crore in the 2021-2022 budget and INR 3,400 crore in 2020-21.
The Automobile sector is also growing in this region as there is an increase in production and investments in the countries like India, Japan, China, Indonesia and Thailand. According to the report by the International Organization of motor vehicles manufacturers (OICA), the Asia Pacific countries like China, Japan, India, South Korea were ranked 1, 3, 5, 9 in terms of total vehicles sold with 25 million, 4.598 million, 2.938 million and 1.9 million respectively in 2020. According to the International Organization of Motor Vehicle Manufacturer’s report car sales dropped in 2020 by 13.8% in comparison to 2019.
Matting Agents Companies and Competitive Landscape
The Global Matting Agents market is fragmented with key global players in the market and there are many large companies in the market. Some of the major companies contributing to the market's growth are- BASF SE, Akzo Nobel NV, Huntsman International LLC, Imerys Minerals, WR Grace and Company, JM Huber Corporation, Lubrizol, Arkema, PPG Industries, Evonik Industries, and many others.
Mergers and Acquisitions, agreements, expansions, joint ventures, etc increases competition in the market like PPG industries made a paint supplier agreement with six flags in June 2021. Imerys minerals expanded the Science & Technology lab facilities in Toulouse, France.
New products, services launched also increase competition between companies and many companies are developing innovative technologies like Honeywell launched the NduroMatt product line which consists of three matting agents in May 2020. Evonik Industries launched ACEMATT 3400 in April 2019. Partnerships and Collaborations between companies are also making the market more competitive.
Divestments and investments by the company and split of companies are also making the market quite competitive.
BASF SE (Badische Anilin-und Sodafabrik)
Overview: BASF SE is a chemical company which is headquartered in Ludwigshafen, Germany. It is the largest chemical public company in the world. The full form of BASF is Badische Anilin-und SodaFabrik (Baden Aniline and Soda Factory). BASF acquired Cognis and Ciba in December 2010 and April 2009 respectively. The company has joint ventures in over 80 countries. The company is also listed on several stock exchanges like the Zurich stock exchange, frankfurt stock exchange, and London stock exchange. The company deals with many products like resins, amines, plastics, crude oil exploration, industrial starch, etc. It is ranked 143 according to fortune 500. The company has various segments of operations like Chemicals, Plastics, Performance Products, Functional Solutions, Agricultural Solutions, and Oil and Gas. The company introduced the Colors & Effects brand in 2016 in the market. The market value of the company as of 20 January 2021 is USD 75 billion.
Product Portfolio:
- Efka FA 4606
- Mattex Pro
- Rheovis HS 1303
- Rheovis HS 1303 EB
- Foamstar SI 2217
- SM 10
Key Development
- Chemical recycling is promoted by BASF and Mitsui Chemicals in Japan.
- BASF launched a research laboratory for pigments in Besigheim, Germany in September 2019 under BASF’S Colors & Effects.
- The company launched a cloud-based digital platform named Refinity in June 2021.
Financial Overview
Blackrock has more than 5% market shares, and Institutional Inventors has around 75% market shares. Germany, U.K, US has market shares of 36%, 11%, 17%. The company was ranked 143 rd among fortune 500 companies. The market value of the company as of 20 January 2021 is USD 75 billion. According to CNN business, some of the major stockholders/owners of the company are Todd Asset Management LLC, Parametric Portfolio Associates, Silvercrest Asset Management group with market shares 0.03%, 0.08%, 0.01% respectively. It is ranked 143 according to fortune 500.
Why Purchase the Report?
- Visualize the composition of the Global Matting Agents Market products in terms of Type, Technology, and Application, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the Global Matting Agents market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of Global Matting Agents Market-level segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The Global Matting Agents market report will provide access to approximately 61 market data tables, 57 figures, and 200 pages
Target Audience 2024
- Equipment suppliers/ Buyers
- Material Type Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Emerging Companies
- Research professionals
- Distributors
- Manufacturers
