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Albany, New York, July 17, 2019 (GLOBE NEWSWIRE) -- A recent report by Transparency Market Research provides a detailed insight on global matting agents market. The report states that the market has consolidated dynamics and is dominated by handful of players across the globe. However, there are various other players that contribute to the dynamics of the market. The prominent players contribute more than 70% of total revenue in the global matting agents market. In order to maintain their dominance these players are investing on research and development in order to provide innovative solutions to the customers. As a result of these strategies, the players are able to stay on the top of the market and gain a competitive edge over their rivals.
Key players that dominate the global matting agents market are Evonik Industries Inc., W.R. Grace & Co.-Conn., PPG Industries Inc., Arkema Group, Imerys Group, Akzo Nobel N.V., Huntsman International LLC etc.
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According to the report, the global matting agents market is expected to witness a robust growth of 5% CAGR in the forecast period of 2017 to 2025. The repost also suggests that the market was values US$ 540 mn during 2016 and is expected to grow gradually in the projected tenure.
Water Based Matting Agents to Exhibit Maximum Growth in Market
The global matting agents market is categorized on the basis of products, technology, and application. Out of these categories, the water based matting agents segment under technology category is expected to show maximum growth in global matting agents market. The dominance of the segment is the result of growing consumption in regions such as Asia Pacific and North America. Moreover, the rising preference for water based matting agents is also expected to be a major reason for the growth of the segment in the market.
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Transition Towards Eco-Friendly Coating to Propel Asia Pacific to Grow Maximum
Major environment preservation initiatives in Asia Pacific have opened the doors for matting agent providers to offer eco-friendly matting agents in the market. Due to these initiatives the global matting agents market is expected to witness a major potential in Asia Pacific region. Moreover, rising trend of customizing the vehicles is also one of the major factors that are influencing the region to show maximum growth in the market during the forecast period.
Rising Demand of Coil and Wooden Coating to Fuel the Growth of the Market
The growing demand for various matting agents is major reason that is promoting the growth of global matting agents market. The market is also witnessing the projected growth as the result of growing demand of matting agents in architectural and industrial application. As a result of matting properties of the agents it is extensively used to provide matt finish to soft steel. Also, the agents can improve the surface properties, mar resistance, and slip of the materials they are applied on. Owing to these properties, the global matting agents market is experiencing the expected growth in estimated tenure. Moreover, these agents also enhance the desirability of architectural materials which is also propelling the growth of the market.
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Moreover, the low cost production, and availability of eco-friendly coating is also one of the prime reasons fueling the growth of global matting agents market.
The Growth of the Market to get Hampered by Rising Demand of UV Cure Coating
The rising demand of UV care coating is likely to impact the growth of global matting agents market in the forecast period. The users are migrating from matting agents UV cure as a result of benefits such as consistency, and higher cure speed. However, with major technological advancements and growing production of eco-friendly and low-cost matting agents is expected to help the global matting agents market to sustain its growth in the forecast period from 2017 to 2025.
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The article is listed by Transparency Market Research Titled “Matting Agents Market (Product - Silica, Wax, Thermoplastic; Technology - Waterborne, Solventborne; Application - Industrial Coatings, Wood Coatings, Leather Coatings, Architectural Coatings) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”
The global matting agents market is segmented on the basis of:
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