Globally, the development of coating products for transportation and infrastructure, energy production and machinery, construction materials, and consumer goods is receiving significant funding. The need to create robust, wear-resistant, and long-lasting coatings motivates these investments. Silica and wax are organic and inorganic matting agents used in coatings to protect metal or other surfaces from corrosive agents like moisture, chemicals, and salt. Thus, increasing demand for durable and wear-resistant coatings positively influences the market growth.
According to Data Bridge Market Research, the Matting Agents Market witnessed a healthy CAGR of 5.00% from 2022 to 2029.
"Implementation of Stringent Environment Regulations is expected to drive the market growth"
The need for green solution coatings is driven by rising environmental consciousness and strict environmental regulations from developed and developing nations. Contrarily, the rules enhance the value added with higher performance levels. Globally, governments are emphasizing green practices to lessen the effects of chemicals on the environment, human health, and marine life. However, the major players in the global market are more likely to offer coatings that adhere to industry norms and environmental rules. The need for water-based technology is being driven by the region's strict environmental regulations in Western Europe and North America, which in turn is fueling the market's expansion during the forecast period.
What restraints the growth of the matting agents market?
"Emergence of COVID-19 pandemic challenges the market growth"
Global economic expansion is being significantly impacted by the introduction of COVID-19, which the World Health Organization (WHO) has classified as a pandemic. In contrast, the International Monetary Fund (IMF) anticipates a 0.3% fall in global GDP in 2020. Additionally, the World Trade Organization (WTO) predicts that the economic effects of COVID-19 will cause a drop in world trade volumes of between 13% and 32% in 2020. The COVID-19 epidemic is anticipated to be observed in 2020 and for a few months afterward. As a result, the pandemic is impacting operations in several industries, including automotive, oil and gas, construction, aerospace, and others.
Segmentation: Global Matting Agents Market
The matting agents market is segmented on the basis of product type, technology, and application.
- Based on product type, the matting agents market is segmented into silica, thermoplastic and wax-based.
- The matting agents market has been segmented based on technology: water-based, solvent-based, and others.
- Based on application, the matting agents market has been segmented into industrial coatings, wood coatings, leather coatings, architectural coatings, leather coatings, printing inks, textile coatings, automotive coatings, packaging coatings, and others.
Regional Insights: Asia-Pacific is expected to dominate the matting agents market
Asia-Pacific is expected to dominate the market and grow significantly because of the presence of a well-established chemical industry and increasing demand for matting agents by the transportation industry in this region. Moreover, the growing consumption of matting agents in countries such as Indonesia, Thailand, India, Malaysia, and Vietnam and increasing research and development activities will further boost the market growth in this region.
- In addition, Europe is likely to register the highest growth rate during the forecast period of 2022 to 2029 because of the high demand for applications such as industrial coatings and architectural and wood coatings in this region. Furthermore, the major industry participants' strong presence will further boost this region's market growth.
Recent Developments: Global Matting Agents Market
- In 2019, The ACEMATT product family's newest matting agent, ACEMATT 3400, was introduced by Evonik AG. High-solids and low-VOC formulations use the new matting agent.
To know more about the study, visit https://www.databridgemarketresearch.com/es/reports/global-matting-agents-market
The Prominent Key Players Operating in the Matting Agents Market Include:
- Baltimore Innovations Ltd (U.K.)
- Evonik Industries AG (Germany)
- Huntsman International LLC (U.S.)
- BASF SE (Germany)
- AkzoNobel N.V. (Netherlands)
- PPG Industries (U.S.)
- 3M (U.S.)
- W. R. Grace & Co. (U.S.)
- Axalta Coating Systems, LLC (U.S.)
- Deuteron GmbH (Germany)
- DuluxGroup Ltd (U.K.)
- HUBER SE (Germany)
- Imerys (France)
- DSM (Netherlands)
- Arkema (France)
- The Lubrizol Corporation (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of matting agents market companies, contact: https://www.databridgemarketresearch.com/es/contact
Research Methodology: Global Matting Agents Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
