A new market study,”Global Matting Agents Market -2019-2026″ has been featured on WiseGuyReports.
The Global Matting Agents Market is valued at USD 678 million in 2018 and is expected to grow at a CAGR of 4.7% in the forecast period 2019-2026 to reach a value of USD 979 million by 2026.
Market Dynamics: Drivers, Restraints, Opportunities Challenges
The growth of the global building and construction industry, increasing global automotive sales, rising global industrialization and rising demand for matting agents in agricultural applications are the crucial factors which are contributing to the growth of the market.
Change in monetary and social conditions set apart by a significant increase in manufacturing and urbanization indicate the growing rate of industrialization among the countries of the world. According to the International Yearbook of Industrial Statistics 2018 released by United Nations Industrial Development Organizations (UNIDO), the world manufacturing value added (MVA) rose by 3.5% in 2017, the highest rate in the last seven years. United Nations Department of economic and social affairs reveals that about 55% of the world’s population resides in urban areas and this figure is expected to reach 68% by 2050. These high industrialization rates have propelled the need for the setting up of a greater number of industries which is in turn expected to augment the growth of the matting agent’s market.
However, high VOC emissions resulting from matting agent applications, varying raw material prices and lower cure speed are important factors which might impede the growth of the market in the forecast period.
Matting Agents Market Segment Analysis
Matting Agents Market, By End-user:
• Architectural Coatings
• Automotive Coatings
• Packaging Coatings
• Industrial Coatings
• Leather Coatings
• Printing Coatings
• Others (Wood Coatings, Textile coatings)
The architectural coatings segment is expected to dominate the global matting agents market in the forecast period owing to the growth of the building and construction industry. According to a survey report by the construction intelligence center, the volume of construction industry output grew by 3.1% in 2018 compared to USD 10.6 trillion in 2017. Moreover, according to Oxford Economics, the volume of construction output will grow by 85% at a global level in 2030.Furthermore, according to a survey report published by the Urban Land Institute, acquisitions of income-producing commercial real estate increased by 3 percent to USD 963.7 billion in 2018, the third highest annual total on record after 2007 and 2015. The investments in commercial real estate sector increased by 19% and the investments in Asia Pacific increased by 2% compared to its 2017 record volume. Increasing infrastructural investments and growing building and construction industries have spurred the demand for architectural coatings using matting agents which is expected to create huge market opportunities in the foreseeable future.
The Global Matting Agents Market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa.
The Asia Pacific region is expected to dominate the global Matting Agents market in the forecast period owing to the high urbanization and industrialization rates, well established markets and rapid growth of the building and construction industries in countries such as India, China and Japan.
According to the National Bureau of Statistics, China, the number of construction enterprises in China increased from 75722 in 2016 to 81196 in 2017. The gross output value of China’s construction industry increased from USD 23 billion in 2016 to USD 26 billion Yuan in 2017. Similarly, according to the India Brand Equity Foundation, industrial investments in India’s real estate in 2018 reached USD 5.5 billion, the highest in a decade. Real Estate industry in India is expected to reach a market size of USD 1 trillion in 2030 from USD 120 billion in 2017 contributing the 25% of the country’s GDP by 2025.
According to the International Organization of motor vehicles manufacturers (OICA), out of the 96.8 million vehicles sold globally, more than 48 million cars were sold in the Asia Pacific region with China alone accounting for more than 29 million car sales followed by 5.2 million in Japan and 4 million in India. The number of cars sold in the Asia Pacific region in 2016 was 4.69 million compared to 4.34 million in 2015. Owing to these reasons, the Asia Pacific region is anticipated to dominate the global matting agent’s market in the future.
New product launches, expansion of facilities, mergers and acquisitions and strategic partnerships are vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
In July 2018, Evonik Industries has announced that its Turkish facility in Adapazari will increase its production capacity of precipitated silica by 40,000t to meet growing demand from the vehicle tyre industry.
In September 2017, Evonik Industries acquired JM Huber’s silica business in order to offer its customers, a wide range of product portfolio. This enables Evonik to expand its position in North America and Asia in the profitable and resilient silica business.
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