Rising demand for plastic components due to lightweight features from car manufacturers, increasing reliance of the building industry on paints and coatings
The global Talc Market is projected to witness significant growth in the coming years due to the increasing demand for biodiesel as a renewable source of energy. Talc is used as a catalyst in the production of biodiesel and its demand is expected to rise as more countries implement regulations and initiatives to reduce carbon emissions. The Asia Pacific region is expected to dominate the market, driven by the growing chemical and pharmaceutical industries in countries like China and India. The market is also expected to see growth in North America and Europe due to the rising demand for biodiesel and other renewable fuels.
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Top Leading Players in The Global Talc Market Are:
Elementis Plc, Golcha Group, Minerals Technologies Inc., Nippon Talc Co., Ltd., Johns Manville, IMI Fabi SpA, ANAND TALC, Chanda Minerals, Imerys, and AKJMinchem.
Some Key Highlights from the Report:
- The market is divided into two types: lump and powder. In 2021, the powder category generated the most income. Talc powder is used to absorb moisture, prevent caking, improve consistency, and make a product opaque. Purified talc powder is the finest form of hydrated magnesium silicate in powder form. Because of its physio-chemical inertness, regulatory organisations all over the globe consider pure talc safe for human consumption. Other inherent physical and mechanical properties of talc powder make it perfect for use in the pharmaceutical sector to generate tablets, capsules, dermatological powders, and lotions.
- According to regional analysis, the North America market will account for the second highest revenue share in 2021. This is due to increased R&D initiatives for the development of dual grades to manufacture Volatile Organic Compound (VOC) coatings and talc coatings to improve gravure paper printability for the pulp and paper and food processing sectors. According to the US Geological Survey, the US has 140,000 metric tonnes of talc reserves in 2020. Furthermore, increased demand for talc for usage in ceramics is propelling revenue development in this area. Talc, for example, has a number of physical and mechanical properties that make it ideal for the production of ceramics, such as high temperature resistance, which reduces fractures and boosts thermal shock resistance.
- Specialty Minerals Inc. (SMI), a part of Minerals Technologies Inc., upped its mineral product pricing by 3 to 10% on January 14, 2021, based on the terms and conditions of each individual client contract. The price increases help SMI sustain momentum in mining, processing, and new product technologies while also helping to offset growing costs.
Segments Covered In The Report:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Lump
- Powder
Application Outlook (Revenue, USD Billion; 2019-2030)
- Industrial Rubber
- Pulp & Paper
- Cosmetic & Personal Care
- Ceramics
- Paints & Coatings
- Pharmaceuticals
- Food Industry
- Plastic Industry
- Others
Deposit Outlook (Revenue, USD Billion; 2019-2030)
- Talc Carbonate
- Talc Chlorite
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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