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I AgreeAnalysis of Talc market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global talc market is estimated at US$ 1.6 billion in 2022 and is slated to expand at a CAGR of 3.3% to reach US$ 2.3 billion by the end of 2032. Surging automobile industry will open up new growth opportunities for talc manufacturers over the coming years.
Report Attributes |
Details |
---|---|
Talc Market Size (2022) |
US$ 1.6 Billion |
Forecasted Market Value (2032F) |
US$ 2.3 Billion |
Global Market Growth Rate (2022-2032) |
3.3% CAGR |
North America Market Share (2022) |
~12.2% |
Europe Market Share (2022) |
~17.6% |
China Market Share (2022) |
~20.2% |
Market Share of Top 3 Countries |
~32.6% |
Key Companies Profiled |
|
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Rapid industrialization in emerging economies such as Thailand, Malaysia, Mexico, Brazil, Argentina, Russia, South Africa, China, and India is driving the growth of the talc market as it is used in several end-use industries for numerous applications.
Population growth and increasing disposable income of the middle class in emerging economies have increased the demand for different types of consumer products such as cosmetics, ceramics, plastic auto parts, and pharmaceuticals, thus driving the growth of the target market. Expansion of the manufacturing and service sectors in emerging economies is another factor driving the growth of the market.
According to Fact.MR, a market research and competitive intelligence provider, the market for talc is projected to expand at 3.3% CAGR between 2022 and 2032.
Market share analysis of talc based on end-use industry and region. Under the end-use industry segment, ceramics leads the market in 2022.
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Continuous advancements in the technology used in cars and increased demand for lightweight auto parts have led vehicle manufacturers to replace metal parts in cars with plastic and composite parts. The use of lightweight plastic and composite components reduces the overall weight of the vehicle, thereby boosting fuel efficiency.
These lightweight plastic parts are made from polypropylene reinforced with talc powder, which improves their performance and durability. It also provides resistance to wear and corrosion. In addition, the growing automotive recycling market and the booming auto OEM parts market are also expected to drive the growth of the global talc market during the forecast period.
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The potential uses for talc are virtually endless and R&D's constant outcome in the industry will help uncover new uses. R&D activities are carried out in the industry to develop new powders for use in barrier coatings for cardboard food packaging.
Extensive research is underway to develop talc coatings to improve the printability of gravure paper; low abrasive market for extruding polypropylene pipes; and dual graded to develop volatile organic compound (VOC) coatings. Therefore, there is considerable scope for the development of improved talc grades for use in the pulp & paper and food industries.
Directives from various environmental protection agencies globally to regulate the production and use of talc in end-use industries are expected to hinder the growth of the market to some extent.
These environmental protection agencies have introduced various regulations around the world to decrease the negative consequence of mining and manufacturing and processing plants on humans and the environment.
Further, thousands of lawsuits have been filed around the world against its use in cosmetic products by people with ovarian cancer or mesothelioma after using talc products.
Lawsuits against the use and production of talc have created the image of a dangerous product, especially in the cosmetics industry. However, talc manufacturers and their end-use companies have denied these allegations of its carcinogenic nature.
India projects immense growth opportunities for the talc market due to the emerging and evolving end-use sectors across the nation. India is the most considerable manufacturer across the globe, followed by China.
India is among the few countries that have white talc reserves. Its deposits can be found all across the nation. A majority of the white talc produced is used domestically.
Rajasthan produces a majority of talc that is used in commercial products in India. The two largest producers are Golcha Associated and Golcha Group, located in Jaipur. They supply high-quality talc to cosmetics and polymer industries.
In plastic production, talc is used as a filler. Its particles as sheets or platy shapes help increase the stiffness of products such as vinyl, polypropylene, nylon, polyethylene, and polyester, among others. It also improves the temperature or heat resistivity of such products and decreases shrinkage.
The plastic industry is anticipated to grow in the Asia Pacific region more prominently even after governments have taken concrete measures against plastic usage. The Chinese plastic industry is expanding at an elevated rate due to the availability of low-price and cost-effective raw materials and tremendous need from end users.
Talc has a prominent application in rubber manufacturing; it delivers a bounce or restorative property to rubber. It also prevents the rubber from stickiness. In addition, the properties of talc, such as high heat resistance and bonding qualities, make it a suitable choice for rubber applications. Thus, the growing rubber industry in China will provide opportunities to talc suppliers over the coming years.
Talc powder is available in three different grades: ground, fine, and ultrafine. These materials have high levels of whiteness, good suspension, and good dispersion properties, which makes their demand high in the market.
The demand for talc powder has grown as a result of the cosmetic industry’s growth. Products such as baby powder, dry shampoo, blush, and dusting powder, among others, are driving segment growth.
Talc is primarily used in the paints and coatings industry, as well as in fillers, printing inks, and other coating-related industries. It is the ideal filler for the paints and coatings industry due to its lamellar structure, hydrophobic characteristics, and chemical inertness.
The market has recently experienced a rise in demand in this industry as a result of its barrier effect, which can successfully stop moisture and corrosion from entering paints and coatings. These characteristics make coatings less prone to blistering, peeling, corrosion, and bubble formation.
Prominent manufacturers of talc include Golcha Minerals Pvt. Ltd, IMI Fabi LLC, Jai Vardhman Khaniz Pvt. Ltd., Lianoing Aihai Talc Co. Ltd., Xilolite S.A, Imerys S.A, Mondo Minerals, Minerals Technologies Inc., Nippon Talc Co. Ltd., and RT Vanderbilt Holding Company Inc.
Market titans are adopting numerous strategies to increase their overall sales. To achieve this, they are focusing their resources on capacity expansion, R&D, and enhancement of the supply chain, which contribute to expanding their catchment area.
Further, the adoption of digital platforms to amplify sales and strengthen brand recognition is a major growth strategy. The organic and inorganic approach is also providing high-growth opportunities for market players.
Fact.MR has provided detailed information about the price points of key manufacturers of talc positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The global talc market is predicted to expand at 3.3% CAGR through 2032.
Form, deposit type, and end-use industry are the segments studied for this market.
The global market for talc is forecasted to reach US$ 2.3 billion by the end of 2032.
Golcha Minerals Pvt. Ltd, Imerys, Nippon Talc, IMI Fabi, and Mondo Minerals are leading manufacturers of talc.
East Asia is the dominating regional market for talc.