TALC MARKET INSIGHTS
- The talc market size to reach around USD 2 billion by 2026, growing at a CAGR of over 4% during the forecast period.
- Talc carbonates contribute 65.85% to the global talc market.
- The demand for talc is the highest in APAC owing to the rising automotive, marine, and consumer electronics industries.
- China is the largest producer of talc in terms of value and volume in APAC. The country contributes 49.53% to the global talc market in terms of value and around 26.49% in terms of volume.
The overall cost reduction of paints is increasing the application of talc in paints and coatings. The growth in the automotive industry is creating immense opportunities for the key players. The rising automobile and construction sector activities are boosting the market growth in the European region. Manufactures such as Chevrolet, Audi, Volvo, and others establish their plants to drive the APAC market growth. The growing construction in the developing regions and government initiatives towards their infrastructure development is soaring the demand for paint and coatings, promoting the growth of the talc market share worldwide.
The ceramic industry is the second-largest end-user segment contributing to the growth of the talc industry. As high aspect ratio talc possesses excellent barrier properties, they become ideal for packaging in the food industries. Due to the rapid industrialization and increase foreign investment, APAC is likely to lead the talc powder market in the coming years.
- The demand for talc will be driven by developing high-quality infrastructure in China and India, followed by Europe with an incremental growth of over 22% during 2020-2026.
- In terms of revenue, the European region to occupy around 21% of the global market. France holds the largest share in terms of revenue in the talc market in Europe.
- China exports approximately 21% of its talc to the United States.
- The market in Latin America to reach revenues of around USD 216 million by 2026.
TALC INDUSTRY GROWTH FACTORS
- The growth of the talc market in North America is supported by the rise in construction activities.
- APAC constitutes 45–50% of the hi-tech manufacturing share, some of the significant trends and factors driving the manufacturing industry in the APAC region.
- Countries such as Argentina, Chile, Peru, Portugal serve as a hotspot for the talc market owing to the growth in the construction sector and automotive sector in the upcoming years.
GLOBAL TALC MARKET SEGMENTATION
This research report includes a detailed segmentation by
MARKET SEGMENTS OVERVIEW
The global talc market by talc carbonate deposits to reach over USD 1 billion by 2026.
The carbonate reserves are typically found in Africa, Europe, North America, Latin America, and APAC. The carbonates contribute over 65% to the global form of talc, followed by silicate and other forms of talc. The carbonate deposits in the market will grow due to their wide usage in paint and coatings, construction, cosmetics, and personal care industries. Talc chlorites are widely used in the ceramics industry to improve thermal shock resistance.
The global talc market by pulp and paper industry to grow at a CAGR of around 4% by 2026.
The paper industry is one of the significant segments where talc is widely used. The recent trends indicate that the pulp and paper industry is continuing to boom in the upcoming years. The growth of e-commerce activities is expected to increase the demand for packaging material and will create growth opportunities for the pulp and paper industry during the forecast period. The evolution of the pulp and paper industry even after digitalization is supporting the growth of the talcum powder market across the globe. The ceramics industry has been affected by COVID-19. According to World Ceramic Review in 2018, the APAC region is the most significant contributor in the global ceramic industry contributing approximately 72% of the worldwide tile production.
APAC accounts for the largest market share in terms of revenues, with around 53%.
In APAC, the acceptance of talc is higher compared to any other developing region. APAC consist of robust manufacturing and other crucial industries. The consumption of talc in the APAC region is high due to the enormous population and increasing disposable incomes. The overall development in infrastructure in APAC is expected to grow around 44% by 2022, which will accelerate the growth of the market in the upcoming years. In India, Rajasthan is a hub for talc mining, processing, and trade, with 49% of talc reserves followed by around 29% in Uttarakhand. Being a leader in eco-innovation and construction with sustainability, infrastructural developments in Denmark in the European region will be high during the forecast period. The growth of the construction industry can drive the scope for talc in the European region.
Imerys, Elementis Plc, Mineral Technologies Inc, IMI FABI SPA, Liaoning, and AIHAI Talc Co., Ltd are the major vendors in the global talc market. With the presence of global and domestic vendors, the industry is highly fragmented. Mergers and acquisitions are benefitting the companies over the competition. Manufacturers with high financial and technical resources are posing a threat to the players. In 2020, the Toronto-based mining company Magris Resources Canada Inc acquired all the assets of Imerys Talc’s (America Inc, Vermont Inc, and Canada Inc) for USD 223 million. Talc producers in the world are investing in R&D to create innovation in the industry. The Chinese producers dominate the world market, contributing more than 50% of production in terms of volume.
The global talc market report includes in-depth coverage of industry analysis with revenue and forecast insights for the following segments:
Segmentation by Deposits
Segmentation by End-Users
- Paint & Coatings
- Ceramic Industry
- Pulp & Paper
- Plastics Industry
- Construction Industry
- Cosmetics & Personal Care
Segmentation by Geography
- North America
- South Korea
- Latin America
- Middle East & Africa