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.
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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.
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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The key players in the matting agents
market are Evonik Industries (Germany), PPG Industries (U.S.), IMERYS Minerals
Ltd. (France), and Huntsman Corporation (U.S.). These players have adopted
various strategies to expand their global presence and increase their market
shares. Expansions & agreements, mergers & acquisitions and joint
ventures are some of the major strategies adopted by market players to achieve
growth in the matting agents market.
PPG Industries operates through various business segments,
namely, architectural coatings, automotive OEM coatings, automotive replenish,
fiber glass, industrial coating, packaging coatings, protective & marine
coatings, and specialty coatings & materials.
The company mainly adopted expansions
as a key strategy in the matting agents market. In October, 2016, the
company announced the completion of the precipitated silica production plant in
Delfzijl, Netherlands. This expansion is expected to increase the precipitated
silica production capacity of the company by 15,000 tons per year. The company is well integrated
across the value chain.
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