The global silica-based matting agents market represents a dynamic specialty chemical industry sector. Silica-based matting agents are widely utilized to achieve desired surface finish and texture levels in various products, including coatings, paints, inks, and plastics. These agents impart a matte appearance by efficiently dispersing within the material and reducing gloss. Various automotive, furniture, and industrial coatings applications characterize the market.
Data Bridge Market Research shows that the Global Silica-Based Matting Agents Market was USD 246.47 million in 2021 and is expected to reach USD 369.74 million by 2029, registering a CAGR of 5.20% during the forecast period of 2022-2029.
"Stringent environment regulations drive the market growth"
Governments increasingly emphasize green practices to minimize chemical impacts on marine life, human health, and the environment. Implementing stringent environmental regulations worldwide, spanning both developed and developing regions, amplifies the demand for eco-friendly coating solutions. Particularly in Western Europe and North America, where environmental regulations are strong, there is a notable surge in the demand for water-based technology. This shift towards environmentally friendly alternatives aligns with sustainability goals and enhances the value proposition through superior performance, fostering market growth.
What restraints the growth of the global silica-based matting agents market?
" Availability of alternatives hamper the market growth"
The abundance of alternative materials, such as waxes and thermoplastics, poses a challenge to the growth of silica-based matting agents. Manufacturers, having a diverse range of options, may opt for these alternatives. The ready availability of thermoplastic resins and waxes in developed and developing countries contributes to the impediment. This diversification in material choices hampers the exclusive market share of silica-based matting agents as manufacturers explore alternatives to meet their specific formulation requirements.
Segmentation: Global Silica-Based Matting Agents Market
The global silica-based matting agents market is segmented on the basis of type, material, technology, and application.
- On the basis of type, the global silica based matting agents market is segmented into flux-calcined diatomaceous earth, fumed silica, natural silica, perlite, precipitated silica, and silica gel
- On the basis of material, the global silica based matting agents market is segmented into silica, waxes, thermoplastics, and others
- On the basis of technology, the global silica based matting agents market is segmented into water-based, solvent-based, and other
- On the basis of application, the global silica based matting agents market is segmented into architectural coatings, industrial, leather coating, wood coating, and others
Regional Insights: Asia-Pacific dominates the Global Silica-Based Matting Agents Market
Asia-Pacific dominates the global silica-based matting agents market, holding a significant market share and revenue, a trend expected to persist throughout the 2022-2029 forecast period. This dominance is fueled by the growth in emerging economies, particularly China and India, boasting substantial customer bases. The region's expanding market underscores the pivotal role Asia-Pacific plays in driving the overall success and growth of the silica-based matting agents market on a global scale.
North America is expected to dominate the global silica-based matting agents market, exhibiting lucrative growth from 2022 to 2029. This projection is attributed to the flourishing end-use industries, including textile, automotive, and construction, within the region. The increased demand for silica-based matting agents in these sectors underscores North America's pivotal role in the global market, with sustained growth anticipated in the specified forecast period.
Recent Developments: Global Silica-Based Matting Agents Market
- In November 2021, Evonik launched three versatile matting agents: ACEMATT OK 390, ACEMATT HK 390, and ACEMATT HK 520. These products, rooted in precipitated silica, expand the ACEMATT line. The introduction of these universally applicable matting agents showcases Evonik's commitment to innovation in the field of specialty chemicals and surface modification solutions
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The Prominent Key Players Operating in the Global Silica-Based Matting Agents Market Include:
- Baltimore Innovations Ltd (U.K.)
- Evonik Industries AG (Germany)
- Huntsman International LLC (U.S.)
- PPG Industries, Inc. (U.S.)
- W. R. Grace & Co. (U.S.)
- Axalta Coating Systems (U.S.)
- BASF SE (Germany)
- ALTANA AG (Germany)
- Deuteron GmbH (Germany)
- DuluxGroup Ltd. (Australia)
- DOG German Oil Factory Society for Chemical Products Ltd. & Co. KG (Germany)
- DOUBLE BOND CHEMICAL IND. CO., LTD. (Taiwan)
- FUJI SILYSIA CHEMICAL LTD. (Japan)
- J.M. Huber Corporation (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global silica-based matting agents market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Silica-Based 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.
