Talc Market to reach US$ 3.1 Billion in 2023
February 06, 2020
Talc Market offers a healthy growth opportunity in the entire ecosystem over the next five years and will reach an estimated value of US$ 3.1 billion in 2023. Talc serves a wide array of applications owing to its excellent properties, such as resistance to heat, electricity, acids, oil, and grease adsorption. The material is widely used to enhances the properties, such as stiffness, thermal conductivity, impact resistance, creep resistance, and chemical resistance, of materials or parts used in various end-use industries. Excellent properties, increasing plastics content in the automotive industry, and growing demand for paint & coatings are the major factors that are driving the global talc market.
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Talc Market Segment Insights:
By Deposit Type:
The global talc market is segmented based on the deposit type as Talc Chlorite, Talc Carbonate, and others. Talc carbonate is projected to remain the largest segment of the market during the forecast period, driven by its high availability in the world, high talc content, and excellent purity. The deposit type is also likely to witness the highest growth over the next five years.
By Application Type
Based on the application type, the talc market is segmented into Pulp & Paper, Cosmetics, Plastics, Ceramics, Paints & Coatings, Pharmaceuticals, Food, and Others. Plastic is likely to remain the most dominant and fastest-growing application segment of the market over the next five years, driven by talc’s usage in a wide range of plastic applications including automobile parts, household appliances, electrical and electronic parts, and wood-plastic composite parts.
Stringent government regulations, such as CAFÉ Standards, are compelling the automakers to introduce lightweight parts into their vehicles to make them lighter in order to meet the fuel efficiency and carbon emission reduction targets. They (automakers) have been increasing the content of plastics into their vehicles, which is further boosting the demand for talc in plastic applications.
By Region:
Based on the regions, Asia-Pacific is projected to remain the largest and fastest-growing market for talc over the next five years, driven by emerging economies, such as China and India. High automobile production, high building and construction activities, and increased industrial activities are the major growth drivers of the region’s demand for talc in the coming years. The region also owns the abundant resources of talc’s raw materials. North America and Europe are also likely to generate healthy demand for talc over the next five years.
Key Players:
The global talc market is marked by the limited number of players catering the demand from a wide array of end-use industries. The key players in the global talc market are Imerys SA, Mondo Minerals BV, Minerals Technologies Inc., IMI FABI, American Talc Company, Golcha Minerals (India) Pvt. Ltd., Magnesita Refratarios SA, Nippon Talc Co., Ltd., and Liaoning Aihai Talc Company Limited. Capacity expansion and collaboration with customers are the key strategies adopted by the key players to gain a competitive edge in the market.
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