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Demand for matting agents manufactured by using water-based technology to witness fastest growth

Writer's picture: Research IndustryResearch Industry

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.


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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