The global Talc Market is projected to grow from USD 2.68 billion in 2018 to USD 3.35 billion by 2023, at a CAGR of 4.6% between 2018 and 2023. The growth of the market can be attributed to the rising demand for talc-reinforced polypropylene from the automotive industry, as automotive components made from talc-reinforced polypropylene reduce the weight of vehicles. However, the stringent implementation of various government regulations monitoring the use of environment polluting products is expected to hamper the growth of the talc market across the globe.
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Based on deposit type, the talc carbonate deposit type segment is projected to lead the talc market during the forecast period. Carbonate is mainly composed of magnesite (magnesium carbonate) or dolomite (magnesium and calcium carbonate) while talc carbonate contains traces of chlorite. It has been found that there are greater deposits of talc carbonate across the globe as compared to those of talc chlorite. After their extraction from mines, ores of talc carbonate are further processed to remove associated minerals and obtain pure talc concentrates.
Based on end-use industry, the plastics segment of the talc market is projected to lead the talc market during the forecast period. Talc is used in the plastics industry as a reinforcing filler for polypropylene and engineering thermoplastics, which are used to manufacture automotive parts, domestic appliances, electrical & electronics components, and food packaging.
The ceramics segment is estimated to be the fastest-growing end-use industry segment of the talc market. Talc is an excellent thermal shock resistant and fluxing agent; it is used in ceramics to improve the mechanical and optical properties of floor and wall tiles. It is also utilized in the production of large format tiles. Moreover, talc is used to improve the properties of catalytic converters and diesel particulate filters in the automotive ceramics cordierites.
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The Asia Pacific talc market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific talc market can be attributed to the increasing demand for talc from the automotive, cosmetics & personal care, and paints & coatings end-use industries in the region.
The talc market has a diversified ecosystem of upstream players, including raw material suppliers, along with downstream stakeholders, vendors, and government organizations. Companies operating in the talc market include Imerys (France), Mondo Minerals (Netherlands), Minerals Technologies (US), IMI Fabi (Italy), and Golcha Minerals (India), among others.
Target Audience
- Manufacturers, Dealers, and Suppliers of Talc
- End Users of Talc
- Government and Research Organizations
- Companies Operational in Material R&D
- Associations and Industrial Bodies
- Investment Banks
- Consulting Companies/Consultants in Chemical and Material Sectors
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