Global Matting Agents Market Overview
The Matting Agents Market Size was estimated at 3.67 (USD Billion) in 2022. The Matting Agents Industry is expected to grow from 3.8(USD Billion) in 2023 to 5.2 (USD Billion) by 2032. The Matting Agents Market CAGR (growth rate) is expected to be around 3.56% during the forecast period (2024 - 2032).
Key Matting Agents Market Trends Highlighted
This market is dynamic and provides opportunities for further expansion. The increasing demand for coatings with better performance properties, such as reduction in gloss and textured finishes, has been driven mainly by the following factors: Key drivers of growth of the matting agents market include the rising matured industries such as construction, automotive, and electronics that use coatings. Recent developments regarding matting agents include nanotechnology advancements and sustainable solutions. Currently, there is a rapid increase in the adoption of nanomaterials like silica-based and carbon-based particles due to their capability to provide excellent matting effects and improve the durability of coatings. Consequently, certain environmental needs have necessitated the development of biobased or eco-friendly matting agents. Another segment that can be explored is niche markets with specific needs for matting products. For example, optical applications require anti-reflective coatings, while specialty coatings for advanced materials necessitate the use of matting agents; hence, these are the areas with potential future prospects for producers operating in this business sphere. Thus, firms competing for such prospects should develop new ideas or solutions applicable to individual client demands without waiting for orders from other players.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Matting Agents Market Drivers
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Rising Demand for High-Performance Coatings and Paints
The growing demand for high-performance coatings and paints in various industries, including automotive, construction, and industrial, is driving the growth of the Matting Agents Market Industry. Matting agents play a crucial role in providing these coatings with desired surface characteristics, such as reduced gloss and improved aesthetics. The increasing use of paints and coatings in residential, commercial, and industrial applications is expected to continue to fuel the demand for matting agents.
Technological Advancements and Product Innovation
The Matting Agents Industry is driven by rapidly developing technologies and frequent product inventions. As a result, producers are investing in R&D projects to make matting agents more effective and functional. The increase in demand for coatings and paints is anticipated from the invention of new products, such as nano-engineered matting agents that better coat and paint properties.
Growing Environmental Awareness and Regulations
Increasing environmental awareness and stringent regulations regarding volatile organic compounds (VOCs) emissions are driving the demand for eco-friendly matting agents. The industry is witnessing a shift towards sustainable and environmentally friendly products, which is expected to boost the growth of the Matting Agents Market Industry. Matting agents that comply with environmental regulations and reduce the environmental impact of coatings and paints are gaining traction.
Matting Agents Market Segment Insights
Matting Agents Market Application Insights
The Application segment of the Market for Matting Agents includes Pharmaceuticals, Paints Coatings, Cosmetics Personal Care, Food Beverages, Agriculture, Textiles and Construction. The paints and coatings area held a large market share in terms of revenue in 2023 and is expected to maintain its top position throughout the forecast period (2023-2032). The growth of this segment is driven by the increasing demand for matting agents in architectural and industrial coatings.
A reasonably high CAGR is expected to be registered in the pharmaceuticals segment during the forecast period. The rise in the prevalence of chronic diseases coupled with an increase in demand for oral solid dosage forms are propelling the growth of this segment.
Cosmetics & personal care are predicted to exhibit an upward trend over the forecast period, with increasing demand for mattifying & anti-shine products driving sectoral growth. The pace at which food & beverages grow has been projected as moderate during the forecasted time. This segment is growing due to increasing demand for matting agents in food processing and packaging.
There will be slow but steady growth within the agriculture sector from now up to 2032. The growth of this section can be attributed to farmers’ need for protection against their crops as well as fertilizers that have matting agents in them. There will only be a modest increase within textiles, while there will be an increment within the printing & finishing fraternity regarding textiles.
Matting agents are used more often than not in the textile industry when it comes to printing or finishing. The construction sector will continue growing on a stable basis up until 2032 because building materials contain various uses, like construction adhesives that require these materials. Depending on different end-use industries across different countries globally, there would still be profound development even as we look forward to future market situations for matting agent consumers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Matting Agents Market Product Type Insights
Product types of the matting agents market include natural matting agents and synthetic matting agents. The eco-friendliness and sustainability of the natural matting agents, which are derived from plants, animals, and minerals have led to their popularity. In contrast, synthetic matting agents are chemically manufactured, offering improved performance and stability. At the same time, Synthetic Matting Agents occupied the remaining 58 percent share in 2023. The major driver for Natural Matting Agents market growth is anticipated to be increasing demand for sustainable and eco-friendly products, while Synthetic Matting Agents are expected to gain from their higher performance levels and flexibility. Consequently, it is believed that the Matting Agents Market will grow gradually in the future, with demand rising across various sectors, including paints & coatings, plastics as well as personal care industries.
Matting Agents Market Source Insights
The Matting Agents Market is segmented by Source into Vegetable, Animal, and Mineral. The Vegetable segment holds the largest market share and is expected to maintain its dominance over the forecast period. The growth of the Vegetable segment can be attributed to the increasing demand for plant-based food products and the growing awareness of the health benefits associated with vegetable-based ingredients. The Animal segment is expected to witness a steady growth rate over the forecast period. The demand for animal-based matting agents is driven by the growing demand for meat and dairy products.The Mineral segment is expected to grow at a moderate pace over the forecast period. The growth of the market is attributed to the increasing demand for matting agents in various industries, including food, beverage, and personal care. The market is also driven by the growing awareness of the functional benefits of matting agents, such as improved texture, stability, and appearance.
Matting Agents Market End User Insights
The End User segment of the Matting Agents Market holds significant importance, catering to diverse industries. Commercial applications accounted for a revenue share of approximately 58% in 2023 and are projected to maintain a steady growth trajectory. The increasing demand for matting agents in commercial settings, such as offices, retail stores, and hospitality establishments, is attributed to their ability to enhance slip resistance, improve indoor air quality, and reduce maintenance costs. Industrial applications, on the other hand, are expected to witness a CAGR of 4.2% from 2023 to 2032, driven by the rising adoption of matting agents in manufacturing facilities, warehouses, and other industrial environments to ensure worker safety, protect flooring, and control noise levels.
Matting Agents Market Regional Insights
The regional segmentation of the Matting Agents Market offers valuable insights into the geographical distribution of market growth and opportunities. North America is projected to dominate the market, driven by the presence of key manufacturers and the high demand for matting agents in various industries, including paints and coatings, adhesives, and sealants. Europe holds a significant market share due to the growing adoption of eco-friendly and sustainable matting agents. The Asia-Pacific (APAC) region is anticipated to witness substantial growth, fueled by the rising demand from emerging economies such as China and India.South America and the Middle East and Africa (MEA) regions are expected to experience steady growth, with increasing demand from the construction and automotive industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Matting Agents Market Key Players And Competitive Insights
Major players in the Matting Agents Market industry are adopting various strategies to enhance their market presence. Leading Matting Agents Market players are investing in research and development to create innovative products that meet the evolving needs of customers. The Matting Agents Market development is driven by the increasing demand for high-quality matting agents in various industries, such as paints and coatings, plastics, and personal care products.Sherwin-Williams, a leading player in the Matting Agents Market, offers a wide range of matting agents for various applications. The company's products are known for their high performance and reliability. Sherwin-Williams has a strong distribution network and a dedicated team of technical experts who provide support to customers.BASF, another major player in the Matting Agents Market, provides a comprehensive portfolio of matting agents for different industries. The company's products are designed to meet the specific requirements of each application. BASF has a presence and a strong commitment to innovation. The company invests heavily in research and development to create new products and solutions for its customers.
Key Companies in the Matting Agents Market Include
- Arkema
- Evonik
- Huntsman Corporation
- PQ Corporation
- BASF
- Clariant
- AkzoNobel
- Wacker Chemie AG
- Stepan Company
- Lubrizol
- Kao Corporation
- Kemira
- Solvay
- Croda International
- Dow
Matting Agents Market Industry Developments
The Matting Agents Market is projected to grow from USD 3.8 billion in 2023 to USD 5.2 billion by 2032, exhibiting a CAGR of 3.56% during the forecast period. This growth can be attributed to increasing demand from the packaging industry, particularly for food and beverage applications. Matting agents are widely used in paints and coatings to control gloss and provide a smooth, non-reflective finish. The construction industry is also a major consumer of matting agents, as they are used in paints and plasters to achieve a matte or flat finish. Furthermore, the growing adoption of matting agents in the automotive industry, particularly in interior applications, is expected to drive market growth in the coming years. Recent developments in the market include the launch of eco-friendly matting agents by major manufacturers, such as BASF and Dow Chemical, in response to increasing demand for sustainable products.
Matting Agents Market Segmentation Insights
Matting Agents Market Application Outlook
- Pharmaceuticals
- Paints Coatings
- Cosmetics Personal Care
- Food Beverages
- Agriculture
- Textiles
- Construction
Matting Agents Market Product Type Outlook
- Natural Matting Agents
- Synthetic Matting Agents
Matting Agents Market Source Outlook
Matting Agents Market End User Outlook
Matting Agents Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
3.67 (USD Billion) |
| Market Size 2023 |
3.8 (USD Billion) |
| Market Size 2032 |
5.2 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.56% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Arkema, Evonik, Huntsman Corporation, PQ Corporation, BASF, Clariant, AkzoNobel, Wacker Chemie AG, Stepan Company, Lubrizol, Kao Corporation, Kemira, Solvay, Croda International, Dow |
| Segments Covered |
Application, Product Type, Source, End User, Regional |
| Key Market Opportunities |
Rising demand for matte finishes in automotive coatings Growing popularity of matte effects in packaging and printing Increasing use of matting agents in electronics and semiconductors Expansion of the construction industry Growing adoption of eco-friendly and sustainable matting agents |
| Key Market Dynamics |
Increasing demand from the automotive industry Growing use of personal care products Expansion of the construction industry Rising consumer preference for matte finish Environmental regulations and sustainability concerns |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
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Frequently Asked Questions (FAQ) :
The Matting Agents Market is valued at USD 3.8 billion in 2023 and is expected to reach USD 5.2 billion by 2032, exhibiting a CAGR of 3.56% during the forecast period.
The Asia Pacific region is expected to dominate the Matting Agents Market throughout the forecast period due to the increasing demand from end-use industries such as paints coatings, plastics and rubber.
The key growth drivers of the Matting Agents Market include rising demand for matting finishes in various applications, increasing environmental regulations, and technological advancements in matting agent formulations.
The major applications of Matting Agents include paint coatings, plastics and rubber, printing inks, and cosmetics.
The key competitors in the Matting Agents Market include BASF SE, Clariant AG, Dow, Evonik Industries, and Arkema.
The Matting Agents Market faces challenges such as raw material price fluctuations, stringent environmental regulations, and competition from alternative matting technologies.
The Matting Agents Market presents opportunities for growth due to the increasing demand for sustainable and eco-friendly matting agents, the development of new applications, and the expansion of the market in developing regions.
The key trends shaping the Matting Agents Market include the shift towards sustainable and eco-friendly products, the increasing use of nanotechnology in matting agent formulations, and the adoption of advanced application techniques.
The COVID-19 pandemic had a negative impact on the Matting Agents Market in the short term due to supply chain disruptions and reduced demand from end-use industries. However, the market is expected to recover as economic activities resume.
The Matting Agents Market is expected to witness steady growth in the coming years due to increasing demand from end-use industries, technological advancements, and the growing awareness of environmental sustainability.
