Matting Agents Market Size, Share & Trends Analysis Report By Product, By Formulation (Waterborne, Solventborne, Powder, UV/EB), By Application, By Region, And Segment Forecasts, 2024 - 2030

Report Overview

The global matting agents market size was valued at USD 894.2 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2030. The market has experienced expansion driven by factors such as increased demand in the automotive and construction industries, expansion of the paints and coatings segment, technological advancements in formulation, consumer preference for matte finishes, and government regulations promoting eco-friendly formulations, as well as the rise of e-commerce.

In the automotive sector, the trend towards matte finishes is gaining popularity, as they offer improved aesthetics and usability. In construction, matting agents are essential for achieving desired surface finishes in coatings and paints, which are in high demand due to urbanization and infrastructure growth.

The expansion of the global paints and coatings industry is directly related to the matting agents market, as these agents are crucial for achieving specific gloss levels in various coatings. Moreover, the shift towards eco-friendly products has led to research on matting agents that enhance sustainable development, further boosting market growth. The increasing demand for low-VOC or VOC-free solutions is also driving the market, as manufacturers seek to conform to regulations and meet environmental concerns while attaining specific finish attributes.

The popularity of matting agents is further driven by advancements in technology, which enable manufacturers to develop high-quality products that meet regulatory requirements and customer demands. As the demand for sustainable and environmentally friendly products continues to grow, the matting agents market is expected to experience significant expansion in the coming years. By providing innovative solutions that meet customer needs while minimizing environmental impact, matting agents are playing a critical role in the growth of various industries.

Product Insights

Inorganic products dominated the market with a share of 66.0% in 2023. Inorganic matting agents, such as silica, talc, and calcium carbonate, demonstrate exceptional stability and performance under various environmental conditions. This stability ensures consistent results over time, making them an ideal choice for applications requiring high abrasion resistance. They also provide enhanced scratch resistance in coatings and surfaces.

Organic products are expected to register lucrative growth with a CAGR of 6.0% during the forecast period. The growing demand for organic products has led to a surge in the market for eco-friendly alternatives. In the beauty and paint industries, consumers seek organic matting agents, which are perceived as more sustainable and environmentally friendly. Organic production methods minimize synthetic chemicals, reducing pollution and environmental impact during manufacturing and disposal.

Formulation Insights

The waterborne segment led the market with a revenue share of 53.0% in 2023. Waterborne formulations offer a safer and more efficient application process compared to solvent-based systems. Easier to clean and with reduced hazardous waste production, they are ideal for a wide range of resins and polymers used in coating production. This versatility makes them a suitable choice for various applications across industries.

The powder segment is expected to register the fastest CAGR of 7.1% during the forecast period. Powdered matting agents exhibit versatility, compatible with various resin systems and solvents, making them suitable for multiple industries. Their ease of storage and transportation, longer shelf-life, and lack of special packaging requirements render them a convenient and practical choice for businesses, reducing logistical challenges and increasing operational efficiency.

Application Insights

Architectural applications of matting agents dominated the market with a revenue share of 40.8% in 2023. Segment growth is driven by urbanization, construction growth, and increasing demand for residential and commercial buildings in developing countries. The trend towards matte finishes, characterized by smooth, sleek surfaces, is gaining popularity, offering a sophisticated and low-reflection aesthetic, further fueling demand for architectural coatings solutions.

The industrial coatings segment is expected to register a rapid growth of 6.3% over the forecast period. The industrial application segment has experienced rapid growth, driven by the expansion of various industries that utilize matting agents. Notably, the automotive sector has seen increased demand for matte finishes, as consumers prioritize updated aesthetics. Moreover, industries are under pressure to meet emission standards and minimize environmental impact, driving demand for eco-friendly solutions.

Regional Insights

Asia Pacific matting agents market dominated the global matting agents market with a revenue share of 38.6% in 2023. The Asia-Pacific region has witnessed rapid economic growth and industrialization, driven by China, India, and Japan’s significant production of manufactured goods. This growth has created a correspondingly high demand for high-quality coatings and compounds containing matting agents, as industries prioritize premium products to meet evolving consumer preferences and market standards.

China Matting Agents Market Trends

The matting agents market in China dominated the Asia Pacific matting agents market with a revenue share of 42.8% in 2023. China is a leading global producer of matting agents, driven by its extensive manufacturing capacity. The country’s numerous chemical production facilities enable large-scale production of these agents at competitive prices, allowing Chinese manufacturers to meet domestic demand while also successfully exporting their products to international markets.

North America Matting Agents Market Trends

North America matting agents market is expected to register the second-fastest CAGR of 6.3% in the forecast period. North America’s established industrialization, production capacity, and economic development create a robust foundation for matting agent manufacturers. With significant resources devoted to R&D, companies in this region have developed improved matting agents, prioritizing efficiency and environmental sustainability, enabling them to meet growing demand and capitalize on market opportunities.

The matting agents market in the U.S. held substantial market share in 2023. The U.S. boasts a well-established industrial manufacturing capability, reliably supplying matting agents. The country’s chemical companies are evolving into specialty chemical manufacturers, including matting agents. The regulatory environment in the country encourages innovation while ensuring acceptable safety standards, creating a favorable environment for growth and development.

Europe Matting Agents Market Trends

Europe matting agents market held a substantial share of the global matting agents market in 2023. The European Union’s regulatory framework, particularly REACH, significantly impacts the matting agents market. This regulation ensures the safe introduction of chemical substances in the EU, driving manufacturers to develop safer alternatives and prioritize sustainability. By fostering a culture of responsible innovation, REACH promotes a healthier environment and public health.

The matting agents market in Germany is expected to grow during the forecast period. Germany’s chemical industry is a global leader, boasting advanced technology and significant innovation. German manufacturers are at the forefront of developing cutting-edge technologies for matting agents, driving product utility, efficiency, and sustainability. By adopting environmentally considerate approaches, they minimize harm to the environment while maintaining productivity and competitiveness.

Key Companies & Market Share Insights

Some key companies in the matting agents market include Evonik; Baltimore Innovations Ltd.; W. R. Grace & Co.-Conn.; Imerys; and PQ Corporation; among others. Market players are adapting to intensifying competition through strategic initiatives, including new product launches, expanded distribution channels, geographic expansion, and other competitive measures.

• PQ Corporation is a global silicate and silica producer, with a focus on sustainability and environmental stewardship. The company operates with 1,120 employees, generating USD 1.6 billion in annual revenue, and provides essential products for various industries, prioritizing innovation and regulatory compliance.

• Huber Engineered Materials, a division of J.M. Huber Corporation, focuses on providing high-performance solutions for various industries, prioritizing product performance and sustainability. With a strong R&D emphasis, Huber creates innovative solutions for efficient and environmentally responsible operations.

Recent Developments

• In June 2024, Huntsman International LLC. inaugurated a new innovation center in Belgium, enhancing its research and development capabilities and solidifying its commitment to customers in the region through this strategic investment.

• In June 2024, Deuteron GmbH showcased its innovative solutions and products for the paint industry at the SURFEX 2024 exhibition in Coventry, UK, featuring offerings from raw materials, chemicals, coatings, and laboratory equipment to demonstrate its expertise and capabilities.

• In April 2024, Evonik introduced the TEGO Foamex 16 and TEGO Foamex 11, two innovative defoamers, improving waterborne architectural coatings.

Matting Agents Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global matting agents market report based on product, formulation, application, and region.

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Organic

  • Inorganic

• Formulation Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Waterborne

  • Solventborne

  • Powder

  • UV/EB

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Industrial coatings

  • wood coatings

  • Leather coatings

  • Architectural

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • India