Talc Market Outlook 2031:
The global talc market size was valued at USD 1.60 Billion in 2022 and is projected to reach USD 2.14 Billion by 2031, expanding at a CAGR of 3.3% during the forecast period 2023 - 2031. The growth of the market is attributed to the widespread applications in paints and coatings, personal care and cosmetics, ceramics, medicines, paper and pulp, plastics, and food can expand the talc industry in the coming years.
Talc is made up of hydrated magnesium silicate and is a clay mineral. It comes in the form of foliated to fibrous masses, as well as an uncommon crystal form. Talc, which is also referred to as baby powder, is a widely used material made up of corn starch and other ingredients. Talc can be used as grease and a thickening agent, that can be found in paint, ceramics, and roofing materials, as well as being a key ingredient in a variety of cosmetics.
Its chemical formula is similar to this basic composition, however, there are structural differences due to the replacement of magnesium with other elements. Due to its tolerance to acid, heat, and electricity, as well as oil and grease absorption, it is widely used as an industrial mineral. And for its softness, shine, aroma retention, purity, and whiteness, it is widely used in the commercial sector.
Talc is often used in the production of astringent baby powders that prevent rashes from being concealed by a diaper. It is a dispersing and anti-caking ingredient that aids in the optimal functioning of fertilizer for plants and animal feeds.
Talc is often used as a glidant (a chemical applied to powder to enhance flow properties) and as an ingredient in the pharmaceutical and food industries. Due to its acid, heat, and electricity resistance, it is employed in the manufacture of electrical switchboards. It's also utilized as a lubricant in cosmetics and as a filler in the pulp and paper sector.
Talc Market Trends, Drivers, Restraints, and Opportunities
- Talc, which is used in industrial coatings and provides benefits such as corrosion prevention, solvents reduction, and strong adhesion, is in high demand due to the growing demand for industrial and marine coatings are major factors propelling the market growth during the forecast period.
- Growing automotive refinishing market and the booming OEM parts market for the automotive sector are estimated to drive the market expansion in the coming years.
- Growing digitization-related steady growth in the pulp and paper industry, increasing rules regulating the manufacturing and use of talc, and growing easy availability of alternatives are among the primary issues possess as a key factor that can restrict the market growth during the forecast period.
- Health concerns in cosmetics and the effect of the COVID-19 epidemic are projected to impede the market expansion.
- Increasing R&D activities for the creation of new varieties of talc, as well as growing demand for the product from various end-user industries, can provide new opportunities for the talc market is projected to create lucrative opportunities for the market players.
Scope of the Talc Market Report
The report on the global talc market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Talc Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Deposit Types (Talc Chlorite and Talc Carbonate), and End-user Industries (Paints and Coatings, Pulp and Papers, Plastics and Rubbers, Personal Care, Food and Beverages, Pharmaceuticals, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Superior Materials Inc.; Nippon Talc Co. Ltd; Minerals Technologies Inc.; LITHOS Industrial Minerals GmbH; IMI Fabi SpA; Imerys; Golcha Group; ELEMENTIS PLC; Crips Guangxi Guilin Longsheng HuaMei Talc Development Co. Ltd; and ANAND TALC
Global Talc Market Segment Insights
Talc Carbonate segment is projected to represent a key market share
Based on deposit types, the global talc market is bifurcated into talc chlorite and talc carbonate. The talc carbonate segment is expected to hold a key share of the market in the coming years owing to its higher purity rates than any other deposit type.
Plastics and rubbers segment is expected to expand at a significant pace
On the basis of end-user industries, the market is divided into paints and coatings, pulp and papers, plastics and rubbers, personal care, food and beverages, pharmaceuticals, and others. The plastics and rubbers segment is expected to constitute a key share of the market during the forecast period due to it is mostly utilized as a filler in the plastic industry.
The platy structure of talc particles serves to raise the stiffness of the product, which improves its heat resistance and shrinkage resistance. Talc improves plastic qualities such as hardness, toughness, tensile strength, impact absorption, electrical insulation, and stability. It also reduces heat loss from electrical equipment as it is an excellent insulator.
Talc is used in the manufacture of rubber to give it bounce and to keep it from becoming sticky. Talc's properties, such as its excellent heat resistance and bonding capabilities, make it a viable option for rubber applications. Talc reduces the viscosity of rubber compounds, making molded parts easier to manufacture. It also improves extrudate characteristics and the UV radiation resistance of vehicle profiles' exterior sections. Talc is used as an insulator in the tire production process and as a processing aid.
Asia Pacific is expected to dominate the market
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market at an impressive CAGR during the forecast period. The regional market growth can be attributed to the growing demand for talc from highly populated countries like India and China.
Simple accessibility of raw resources and reasonable labor are other factors driving the market growth in the coming years. China stopped producing its pulp, increasing pulp pricing, which is anticipated to slow the development of talc use in the nation's pulp and paper industry. India is one of the few countries having resources of white talc. Talc deposits can be found all across the country. The majority of white talc manufactured is consumed within the nation.
The global talc market has been segmented based on
- Talc Chlorite
- Talc Carbonate
- Paints and Coatings
- Pulp and Papers
- Plastics and Rubbers
- Personal Care
- Food and Beverages
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the global talc market include Superior Materials Inc.; Nippon Talc Co. Ltd; Minerals Technologies Inc.; LITHOS Industrial Minerals GmbH; IMI Fabi SpA; Imerys; Golcha Group; ELEMENTIS PLC; Crips Guangxi Guilin Longsheng HuaMei Talc Development Co. Ltd; and ANAND TALC.
Some of these players are adopting several business strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.