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The Matting Agents Market size is forecast to increase by USD 166 million, at a CAGR of 5.89% between 2023 and 2028. The market is experiencing significant growth, driven by the rising automotive production and increasing demand for matting agents in the coatings industry. Automotive coatings manufacturers are focusing on enhancing the aesthetic appeal and durability of their vehicles, leading to an increased usage of matting agents in paint coatings. Furthermore, matting agents play a crucial role in the coatings industry by reducing gloss levels and improving the overall appearance of the coated surfaces. However, the high cost of matting agents remains a challenge for market growth. Despite this, the market is expected to continue its expansion due to the growing demand for eco-friendly and high-performance matting agents and plastics. The market trends and analysis report provides an in-depth analysis of these factors and more, offering valuable insights for stakeholders in the matting agents industry.
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The market experiences robust growth driven by the expanding furniture industry and rising demand for scratch resistance coatings. High water resistance and ease of use also contribute to market growth, especially in applications such as decorative paints and wood stains. However, challenges such as fluctuating humidity levels and drying time in coating applications pose hurdles. With increasing urbanization and emphasis on sustainability, there's a notable shift towards waterborne and solvent-borne matting agents. The automotive industry, particularly for interiors, seeks offering antiglare properties, further propelling market expansion. The market exhibits a diverse landscape driven by several key factors. Firstly, the furniture industry relies on matting agents to achieve desired finishes, ensuring scratch resistance and high water resistance in various wood products. Additionally, it is crucial in decorative paints and emulsion paints for imparting an antiglare property, and enhancing aesthetics. Furthermore, they are indispensable in the automotive industry, particularly for automotive interiors, where antiglare properties are essential for enhancing visibility. This segmentation underscores the versatile applications and significance of matting agents across diverse sectors.
The rising automotive production is driving growth in the market. The market is being stimulated by the growth of automotive production. As automotive manufacturing experiences a notable expansion, the demand for high-quality finishes and coatings with varying levels of gloss becomes increasingly essential. The need is driven by this demand, which plays a pivotal role in achieving the desired aesthetic and functional characteristics of automotive surfaces.
Moreover, with consumers seeking personalized and visually captivating cars, the significance of matting agents in the automotive sector cannot be understated. Furthermore, it plays a role in both the interior and exterior aspects of the vehicle. As automotive production continues its upward trajectory, the demand for matting agents is expected to rise in tandem. Such factors are expected to drive the growth of the global market during the forecast period.
The growing demand for matting agents in the coatings industry is a key trend in the market. Matting agents have a key role to play in controlling the opacity and appearance of surfaces in the paint industry. One driving force behind this trend is the increasing need for customized finishes in various sectors. The construction industry demands coatings that offer not only protection but also aesthetic enhancement.
Moreover, matting agents help achieve finishes that are not only visually pleasing but also capable of withstanding environmental factors. Innovative formulations of matting agents, which are adapted to the particular needs of each application, must be explored by manufacturers. This trend emphasizes the crucial role matting agents play in the coatings sector and their contribution to creating coatings that are both visually appealing and functionally reliable. Such factors are expected to drive the growth of the global market during the forecast period.
The high cost of matting agents is a major challenge in the market. Manufacturers trying to make cost-effective coatings and finishes are faced with a critical challenge in terms of cost. Matting agents, which are specialized additives used to control gloss levels and surface characteristics, can contribute significantly to the overall cost of coatings. In particular, in sectors where cost-effectiveness is critical, this may have a negative impact on the competitiveness of finished products.
However, high-priced matting agents can lead to increased production expenses, negatively affecting profit margins and potentially pricing products out of the reach of certain market segments. The introduction of new and advanced mat products into the global market may, in the future, be hindered by higher development costs that could limit the industry's capacity to meet evolving needs. Such factors are expected to hinder the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Akzo Nobel NV- The company offers matting agents such as Sikkens matting paste that are used for reducing the gloss level of high gloss 2K paints.
The market forecasting research report also includes detailed analyses of the competitive landscape of the market and information about 14 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The organic segment is estimated to witness significant growth during the forecast period. Organic matting agents, derived from natural sources such as plant-based materials, offer several advantages that align with the current market trends. The low impact on the environment, reduced carbon footprint, and compatibility with ecotoxic formulations, matting agents are becoming increasingly popular. Furthermore, Amidst urbanization and growing infrastructure projects, matting agents find extensive use in construction materials, including flooring and prefabricated construction, aligning with sustainability trends and green building technology.
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The organic segment was the largest segment and was valued at USD 277.70 million in 2018. Consumers are increasingly drawn to products and coatings that boast eco-friendly and non-toxic attributes. As a result of this demand, organic alternatives have become more and more sought by manufacturers to address this increasing market segment. Moreover, the versatility of organic agents is noteworthy. As the global emphasis on sustainability continues to shape various industries, the organic segment of the global market is expected to expand further during the forecast period.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in the APAC region is currently experiencing dynamic growth, driven by several key factors that highlight the region's increasing significance in global coatings and related industries. One of the primary drivers propelling the market in APAC is the rapid expansion of industries such as automotive, construction, and electronics.
Moreover, a broad range of paints with a variety of glosses and surface finishes is needed in these sectors. Matting agents are essential components in achieving the desired visual and tactile effects in these coatings, leading to increased demand for these products. As a result, they are able to address these requirements through the availability which allows for different finishes such as glossy or matte, thus meeting the diverse preferences of consumers. The environmental consciousness prevalent in APAC is also influencing the market in APAC. Such factors will increase the market growth during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market showcases a dynamic landscape driven by various factors and applications. Wood strainers rely on matting agents to achieve the desired matte finish, enhancing aesthetic appeal. Amid crises and evolving business models, the market witnesses technology implementation and remodeling for sustainability, especially in sustainable construction practices. Waterborne matting agents offer superior flow properties and adaptability for coating applications, even in challenging environments like high humidity and freezing conditions. With extensive usage across automotive industries and sectors like additive, architectural coatings, and industrial coatings, matting agents play a pivotal role. The market thrives on innovative technologies, and diverse raw materials like silica and waxes and offers various formulations to cater to different needs in metals, papers, and architectural applications.
Further, the market experiences fluctuations influenced by various factors like crisis situations and the evolving strategies of businesses, leading to business model remodeling. These agents find extensive use in coating application across diverse industries, such as printing inks and architectural applications, supported by advanced coating technology. Raw material suppliers provide essential components like precipitated silica and pyrogenic silica, alongside other chemicals, catering to the demands of developed markets. Formulations, including waterborne and powder coating formulations cater to different preferences, with options like silica-based products and thermoplastic matting agents offering versatility. The market's segmentation into inorganic and waterborne segments reflects its adaptability to various applications, including architectural applications and beyond.
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Market Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.89% |
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Market growth 2024-2028 |
USD 166 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.35 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, Japan, Germany, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Akzo Nobel NV, Arkema SA, Axalta Coating Systems Ltd., Baltimore Innovations Ltd, BASF SE, Berkshire Hathaway Inc., CHT Germany GmbH, Deuteron GmbH, Evonik Industries AG, Huntsman Corp., Imerys S.A., J M Huber Corp., Michelman Inc., PPG Industries Inc., PQ Group Holdings Inc., Standard Industries Inc., and Thomas Swan and Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
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Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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