Silica Based Matting Agents Market - Forecast(2024 - 2030)
Silica Based Matting Agents Market Overview
Silica-based
matting agents market size is forecast to reach US$334.1
million by 2027, after growing at a CAGR of 4.7%
during 2022-2027. Matting agents are additives that are mixed with coatings and
paints in order to impart a matte finish to the substrate. Silica-based matting
agents are widely used in coating, and printing
ink formulations to reduce the gloss of the coated films. The growing
demand for industrial coatings along
with increasing demand from automotive, construction, textile, and packaging
among others are driving the market growth during the forecast period. Polyolefin
wax is used as a matting agent in clear coats, printing ink, and powder coatings. The growing adoption of eco-friendly
matting agents among end-use industries is also supporting the market growth during
the forecast period. Waster-based silica-based matting agent is one of the most
eco-friendly products and generates minimum VOC emissions. According to the
U.S. Census Bureau, Construction spending during July 2021 was estimated at a
seasonally adjusted annual rate of US$1,568.8 billion, which is above the
revised June estimate of US$1,563.4 billion. However, fluctuation in raw
material prices is likely to hamper the market growth during the forecast
period 2022-2027. However, regulation on the usage of solvent-based matting agents
is likely to hamper the market growth during the forecast period.
COVID-19 Impact
The COVID-19
pandemic is impacting different industries; one of the few industries that were
primarily hit to some extent was the paints & coatings industry. The demand
for silica-based matting agents is low during the covid-19 crises. The delay in
manufacturing activities and construction activities in both developed and
developing nations impacted the market growth for silica-based matting agents during
covid-19. However, the Silica Based Matting Agents industry faced problems
related to the supply chain, lack of workforce, and lack of raw materials
supply among others. According to World Bank, the world construction value was US$22.04
trillion in 2020, compared to US$23.29 trillion in 2019, showing a decline of
around US$1.25 trillion in 2020.
Report Coverage
The report: “Silica Based Matting Agents Market Report –
Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the
following segments of the Silica Based Matting Agents industry.
By Type: Precipitated
Silica, Fumed Silica, Natural Silica, Silica Gel, Perlite, Flux-calcined
Diatomaceous Earth, and Others
By Technology: Solvent-based,
Water-based, UV-cured, and Powder
By Application: Architectural
Coatings [Interior Coatings, and Exterior Coatings], Automotive Coatings
[Passenger Vehicles, and Commercial Vehicles], Packaging Coatings, Industrial
Coatings, Printing inks, Leather Coatings, Textile Coatings, Wood Coatings, and
Others
By Geography: North
America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and
Rest of Europe), Asia-Pacific (China, Japan, South Korea, India,
Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), South
America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and
Rest of the World (the Middle East and Africa)
Key Takeaways
- The Asia Pacific is expected to register the highest CAGR of 5.8% during the forecast period (2022-2027). Rapid urbanization, emerging economies, and increasing construction activities are the major factors driving the market growth.
- The water-based segment is expected to grow at a high CAGR of 5.3% during the forecast period 2022-2027.
- The increasing market for automotive and the increasing growing importance of silica-based matting agents among end -users are the key factors driving the silica-based matting agents market
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Silica Based Matting Agents Market Segment Analysis - By Technology
The water-based
technology segments accounted for approximately 26%
of the market share in 2021 and are estimated to grow at a high CAGR during the
forecast period. Water-based silica-based matting agents are known as eco-friendly
agents and are extensively utilized in paints and coatings applications. Water-based
matting agents generate negligible VOC emissions compared to solvent-based agents.
Therefore, they are referred to as eco-friendly and have excellent
compatibility with water-based resins. End-use industries such as automotive, construction,
and textile are widely preferring water-based coatings.
Silica Based Matting Agents Market Segment Analysis – By Application
The architectural
coatings segments accounted for approximately 22%
of the market share in 2021 and are estimated to grow at a significant CAGR
during the forecast period. Architectural coatings are used for residential and
commercial buildings. The growing construction industry in both developed and
developing nations is driving the market for architectural coatings. Additionally,
the growing demand for inorganic matting agents across various applications
like paints, lacquers, inks, varnishes is also supporting the market growth
during the forecast period. According to BC Construction Association (BCCA),
US$ 125 billion construction projects are underway and US$ 220 billion are
proposed projects currently in Canada. Growing foreign investments in the
construction industry are also supporting market growth. According to the data
published by FDI India, Indian real estate attracted approximately US$5 billion
in institutional investments in 2020, and they also mentioned that
Institutional real estate investments in India increased by 21% in the first
quarter (2021) to US$922 million.
Silica Based Matting Agents Market Segment Analysis - By Geography
Asia Pacific region held a significant share in the silica-based matting agents market in 2021, up to 42%, owing to the rapid growth in construction in the region. The presence of developing nations such as India and China is driving the market growth in the region. Abundant raw material sources and the availability of a workforce also support the regional demand. According to the 2021 World Investment Report published by UNCTAD, FDI inflows into China increased by 6% in 2020, to USD 149 billion, up from USD 141 billion in 2019. According to FDI India, approximately US$26.08 billion FDI equity Inflows in Construction Development during April 2000 – March 2021. The European region is expected to hold a significant growth rate during the forecast period. The growth in end-use industries such as textile, automotive, and construction is supporting regional growth. According to UK Fashion & Textile Association, the fashion and textile industry contributes almost US$ 26 billion to the UK economy. The total sales are around US$ 59 billion and online retail sales of textile has been increased by 31% in 2020.
Silica Based Matting Agents Market Drivers:
Growing demand from the automotive industry
The growing preference
for matte-finished surfaces has witnessed a steady growth over the recent past
reportedly due to the aesthetic appeal associated with matte-finished surfaces.
Silica-based matting agents are used in automotive coatings and paint and they enhance
the aesthetic appeal of vehicles. Silica-based matting agents improve grind
performance and result in a smooth surface finish with outstanding optical and
haptic properties. According to the data published by ACEA, approximately 77.9
million motor vehicles were produced around the world in 2020. The European
region produces 17 million motor vehicles and occupied 22% of total motor vehicles
produced in 2020. Thus the growing demand for motor vehicles globally will
drive the demand for silica-based matting agents during the forecast period.
Silica
Based Matting Agents Market Challenges:
Availability of alternative matting agents
Generally,
matting agents are manufactured from different materials such as silica, waxes,
and thermoplastics among others. The manufacturers have different options to
choose the different materials for developing matting agents. The easy
availability of thermoplastic resins and waxes in both developed and developing
nations will also hamper the market growth for silica-based matting agents. Approximately silica-based occupy 40% of the total
matting agents market whereas thermoplastic and wax-based occupy 60% of the matting
agents market.
Silica Based Matting Agents Industry Outlook
Technology launches,
acquisitions, and R&D activities are key strategies adopted by players in
this market. Major players
in the silica-based matting agents market include
- Evonik Industries
- PG Industries, Inc.
- W. R. Grace & Co.-Conn.
- Imerys
- The Lubrizol Corporation
- PQ Corporation
- Quantum Silicones
- Allnex Group
- Huntsman International LLC.
- DOG Deutsche OelfabrikChemischeErzeugnisse GmbH & Co. KG
- Banner Chemicals Limited
Recent Developments
- In November 2021, Evonik launches three universally applicable matting agents namely ACEMATT OK 390, ACEMATT HK 390, and ACEMATT HK 520. The ACEMATT® product range is based on precipitated silica.
- In August 2021, Grace Company launched its new product “SYLOID® MX 110 silica” for high-performance coil and general industrial coatings.
- In April 2019, Evonik launched a new product namely ACEMATT® 3400 a new matting agent in the ACEMATT® product family. The product is specially developed for high-transparency clear coatings and soft-touch coatings with smooth surfaces
Relevant Reports
Matting Agents Market - Forecast(2022 -
2027)
Report Code: CMR 36118
Synthetic Wet Silica Market -
Forecast(2022 - 2027)
Report Code: CMR 1391
Entrance
Matting Market - Forecast(2022 - 2027)
Report Code: CMR 0310
For more Chemicals and Materials Market reports, please click here
LIST OF TABLES
1.Global Silica-based Matting Agents Market Analysis and Forecast, by Type Market 2023-2030 ($M)2.Global Silica-based Matting Agents Market Analysis and Forecast, by Technology Market 2023-2030 ($M)
3.Global Competition Landscape Market 2023-2030 ($M)
3.1 Silica-based Matting Agents Competition Matrix, Market 2023-2030 ($M) - Global Industry Research
3.1.1 Evonik Industries AG Market 2023-2030 ($M)
3.1.2 W.R. Grace Market 2023-2030 ($M)
3.1.3 PQ Corporation Market 2023-2030 ($M)
3.1.4 PPG Industries Market 2023-2030 ($M)
4.Global Silica-based Matting Agents Market Analysis and Forecast, by Type Market 2023-2030 (Volume/Units)
5.Global Silica-based Matting Agents Market Analysis and Forecast, by Technology Market 2023-2030 (Volume/Units)
6.Global Competition Landscape Market 2023-2030 (Volume/Units)
6.1 Silica-based Matting Agents Competition Matrix, Market 2023-2030 (Volume/Units) - Global Industry Research
6.1.1 Evonik Industries AG Market 2023-2030 (Volume/Units)
6.1.2 W.R. Grace Market 2023-2030 (Volume/Units)
6.1.3 PQ Corporation Market 2023-2030 (Volume/Units)
6.1.4 PPG Industries Market 2023-2030 (Volume/Units)
7.North America Silica-based Matting Agents Market Analysis and Forecast, by Type Market 2023-2030 ($M)
8.North America Silica-based Matting Agents Market Analysis and Forecast, by Technology Market 2023-2030 ($M)
9.North America Competition Landscape Market 2023-2030 ($M)
9.1 Silica-based Matting Agents Competition Matrix, Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Evonik Industries AG Market 2023-2030 ($M)
9.1.2 W.R. Grace Market 2023-2030 ($M)
9.1.3 PQ Corporation Market 2023-2030 ($M)
9.1.4 PPG Industries Market 2023-2030 ($M)
10.South America Silica-based Matting Agents Market Analysis and Forecast, by Type Market 2023-2030 ($M)
11.South America Silica-based Matting Agents Market Analysis and Forecast, by Technology Market 2023-2030 ($M)
12.South America Competition Landscape Market 2023-2030 ($M)
12.1 Silica-based Matting Agents Competition Matrix, Market 2023-2030 ($M) - Regional Industry Research
12.1.1 Evonik Industries AG Market 2023-2030 ($M)
12.1.2 W.R. Grace Market 2023-2030 ($M)
12.1.3 PQ Corporation Market 2023-2030 ($M)
12.1.4 PPG Industries Market 2023-2030 ($M)
13.Europe Silica-based Matting Agents Market Analysis and Forecast, by Type Market 2023-2030 ($M)
14.Europe Silica-based Matting Agents Market Analysis and Forecast, by Technology Market 2023-2030 ($M)
15.Europe Competition Landscape Market 2023-2030 ($M)
15.1 Silica-based Matting Agents Competition Matrix, Market 2023-2030 ($M) - Regional Industry Research
15.1.1 Evonik Industries AG Market 2023-2030 ($M)
15.1.2 W.R. Grace Market 2023-2030 ($M)
15.1.3 PQ Corporation Market 2023-2030 ($M)
15.1.4 PPG Industries Market 2023-2030 ($M)
16.APAC Silica-based Matting Agents Market Analysis and Forecast, by Type Market 2023-2030 ($M)
17.APAC Silica-based Matting Agents Market Analysis and Forecast, by Technology Market 2023-2030 ($M)
18.APAC Competition Landscape Market 2023-2030 ($M)
18.1 Silica-based Matting Agents Competition Matrix, Market 2023-2030 ($M) - Regional Industry Research
18.1.1 Evonik Industries AG Market 2023-2030 ($M)
18.1.2 W.R. Grace Market 2023-2030 ($M)
18.1.3 PQ Corporation Market 2023-2030 ($M)
18.1.4 PPG Industries Market 2023-2030 ($M)
19.MENA Silica-based Matting Agents Market Analysis and Forecast, by Type Market 2023-2030 ($M)
20.MENA Silica-based Matting Agents Market Analysis and Forecast, by Technology Market 2023-2030 ($M)
21.MENA Competition Landscape Market 2023-2030 ($M)
21.1 Silica-based Matting Agents Competition Matrix, Market 2023-2030 ($M) - Regional Industry Research
21.1.1 Evonik Industries AG Market 2023-2030 ($M)
21.1.2 W.R. Grace Market 2023-2030 ($M)
21.1.3 PQ Corporation Market 2023-2030 ($M)
21.1.4 PPG Industries Market 2023-2030 ($M)
LIST OF FIGURES
1.US Silica Based Matting Agents Market Revenue, 2023-2030 ($M)2.Canada Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
3.Mexico Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
4.Brazil Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
5.Argentina Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
6.Peru Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
7.Colombia Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
8.Chile Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
9.Rest of South America Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
10.UK Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
11.Germany Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
12.France Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
13.Italy Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
14.Spain Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
15.Rest of Europe Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
16.China Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
17.India Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
18.Japan Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
19.South Korea Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
20.South Africa Silica Based Matting Agents Market Revenue, 2023-2030 ($M)
21.North America Silica Based Matting Agents By Application
22.South America Silica Based Matting Agents By Application
23.Europe Silica Based Matting Agents By Application
24.APAC Silica Based Matting Agents By Application
25.MENA Silica Based Matting Agents By Application