DUBLIN — A new market analysis by Research and Markets predicts that amid the COVID-19 crisis, the global market for matting agents is estimated at $493.7 million in 2020 and is projected to reach a revised size of $604.8 million by 2027, growing at a compound annual growth rate (CAGR) of 2.9% over the analysis period of 2020 to 2027. The water-based segment is forecast to grow at over 3.3% and reach a market size of $300.1 million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the solvent-based segment is readjusted to a revised 2.8% CAGR for the seven-year period.
The study estimates that the market for matting agents in the United States is around $133.4 million in 2020. China is forecast to reach a projected market size of $123.6 million by 2027, with an estimated CAGR of 5.5% over the analysis period. Other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 2.2% respectively from 2020 to 2027. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.
In the global powder segment, the United States, Canada, Japan, China and Europe will drive the 1.8% CAGR estimated for this segment. These regional markets account for a combined market size of $22.2 million in 2020 and are projected to reach $25.2 million by the close of the analysis period, led by China. With countries such as Australia, India and South Korea leading the way, the market in Asia-Pacific is forecast to reach $83.4 million by 2027. Latin America is projected to expand at a 3% CAGR through the analysis period.
The 293-page report, Matting Agents - Global Market Trajectory & Analytics, presents insights into how the pandemic has impacted production and the market for 2020 and 2021. A short-term phased recovery by key geography is also addressed. The global analysis and forecast periods include a current and future analysis of the period covering 2020 to 2027 and a historic review of 2012 to 2019. Research estimates are provided for 2020, while research projections cover the period 2021 to 2027. Click here for more information.