The global market for matting agents is projected to reach USD 579.9 million by 2022, at a CAGR of 4.4% during the forecast period. The global matting agents market is witnessing growth on account of the increasing applications in the Asia-Pacific region, mainly in Indonesia, Thailand, Malaysia, Vietnam, and India.
The popularity of matte and ultra-matte finishes is increasing over the past few years. Excellent resistance properties and durability in the coatings in comparison to those of gloss finishes has resulted in an increase in demand for the matte and ultra-matte finishes. Matte finishes cover imperfections in surface applications and have a comparatively higher resistance to scratches over glossy finishes.
Silica is the material majorly used to provide matte finishes. Silica is available in both, the natural form as well as synthetic form. Silica differ by their particle size distribution, surface area, crystalline property, and density. Silica provides relatively higher efficiency as compared to other matting additives. This is expected to benefit the growth of the silica-based matting agents market during the next five years.
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Stringent government regulations for the manufacture of environment friendly products in developed markets has caused a ripple effect in the entire supply chain of the coatings industry. Manufacturers have invested in developing alternative products that meet the regulatory standards. The water-based technology has captured a major market share of the solvent-based technology in many applications owing to the minimal to zero percent organic solvents in formulations.
Matting agents used in architectural coatings increase corrosion and temperature resistance, and antiglare properties in end products. The growing popularity of the matte finish among consumers in developed nations coupled with growth in the construction industry is expected to drive the matting agents market in architectural coatings.
The Asia-Pacific region is projected to grow at the fastest CAGR from 2017 to 2022. Owing to the huge growth potential, India is projected to be the fastest-growing matting agents market in the region during the forecast period, followed by Vietnam, Indonesia, and Malaysia in terms of volume. The shifting of end-use industries such as automotive, marine and furniture to countries such as Indonesia and Vietnam is driving the matting agents market in these countries, owing to the cost-effective production facilities.
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