Pune, India., April 17, 2023 (GLOBE NEWSWIRE) -- According to our new research study on “Talc Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by deposit type, end-use industry and geography”, the talc market was valued at US$ 1,987.43 million in 2022 and is projected to reach US$ 2,628.30 million by 2028; it is expected to record a CAGR of 4.8% from 2022 to 2028. Increasing demand for talc in the paper & pulp industry will drive market growth during the forecast period.
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Global Talc Market Growth Drivers:
• Increasing demand from end-use industries: Talc is widely used in the manufacturing of plastics, ceramics, paper, paint, and other products. As demand for these products grows, the demand for talc is also expected to increase.
• Growing use in the automotive industry: Talc is used in automotive parts such as interior and exterior trim components, electrical housings, and under-the-hood applications due to its properties such as heat resistance, low coefficient of thermal expansion, and good electrical insulation. The growing demand for lightweight and fuel-efficient vehicles is expected to drive the demand for talc in the automotive industry.
• Rise in demand from the cosmetics industry: Talc is used in the manufacturing of cosmetic products such as baby powder, face powders, and body powders. As the demand for cosmetics continues to grow, the demand for talc in this industry is also expected to rise.
• Increasing use in the healthcare industry: Talc is used in the manufacturing of pharmaceuticals, as well as medical devices such as surgical gloves and catheters. The growing healthcare industry is expected to drive the demand for talc in this sector.
• Technological advancements: Advancements in technology have led to the development of new applications for talc, such as in the manufacturing of nanocomposites, which are used in a variety of industries including aerospace, electronics, and construction. These advancements are expected to drive the growth of the talc market.
• Expansion of production facilities: Major talc manufacturers are investing in expanding their production facilities to meet the growing demand for talc. For example, in 2020, Imerys Talc announced the expansion of its production facility in Montana, USA, to increase its capacity to meet the growing demand for talc in various industries.
Global Talc Market Recent Developments:
• Increasing demand from the healthcare industry: Talc is widely used in the healthcare industry in the manufacturing of pharmaceuticals and medical devices. In recent years, there has been a growing demand for talc in this industry due to its properties such as absorbency, lubricity, and low toxicity.
• Growing use in the plastics industry: Talc is used as a reinforcing filler in plastics due to its ability to enhance stiffness, impact resistance, and dimensional stability. In recent years, there has been a growing demand for talc in the plastics industry, especially in the production of lightweight and fuel-efficient automotive parts.
• Technological advancements: Advancements in technology have led to the development of new applications for talc, such as in the manufacturing of nanocomposites, which are used in various industries including aerospace, electronics, and construction. These advancements are expected to drive the growth of the talc market.
• Environmental concerns: The talc industry has faced scrutiny over the potential health and environmental risks associated with the use of talc. As a result, many companies are investing in sustainable practices and developing talc products that are free from contaminants.
• Mergers and acquisitions: In recent years, there have been several mergers and acquisitions in the talc industry, with companies seeking to expand their operations and gain a competitive edge. For example, in 2021, Imerys completed the acquisition of the talc business of Luzenac, a subsidiary of Rio Tinto, to strengthen its position in the talc market.
• Regulatory changes: Governments around the world are introducing regulations to control the use of talc in various industries. In 2020, for example, the European Union added talc to its list of restricted substances under the REACH regulation, which is expected to impact the talc market in the region.
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In 2022, Asia Pacific held the largest share of the global talc market. The Asia Pacific talc market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Asia Pacific is one of the largest crude and processed talc-producing regions across the world. The region is home to major manufacturers producing paper and pulp and lightweight plastics for automotive components. The development of automotive parts and components in the region with the rise of electric vehicle production will create lucrative opportunities for the lightweight plastics market over the coming years. This, in turn, will drive the talc market in the region during the forecast period.
Growing Demand for Talc in Paper & Pulp Industry Drives Talc Market Growth:
Talc is commonly used in the pulp & paper industry as a pitch control agent, coating pigment, and functional filler. It helps enhance the runnability of a paper machine. Talc is used to recycle paper and produce new paper, pulp, and cardboard. The properties of talc prevent pitch agglomeration within the production machine. Talc is used as a filler to give smoothness, porosity, and opacity to paper. Also, in paper production, talc use enhances the quality of finished products and reduces production costs. China is one of the major producers of paper and pulp. The use of paper is highest in China. According to the report published by National Bureau of Statistics, manufacturers of paper and paper products in China generated a revenue of about US$ 201 billion in 2020, with a gross profit of about US$ 13 billion, at a 21.2% year-on-year growth. The demand for paper packaging is increasing in various sectors. Quick service restaurants (QSR) and fast-food restaurants are among the largest users of paper packaging products. The growing paper & pulp industry propels the demand for talc, which drives the talc market growth.
Global Talc Market: Segmental Overview
Based on deposit type, the talc market is bifurcated into talc chlorite and talc carbonate. The talc carbonate segment held a larger market share in 2022. Talc-carbonate ore bodies mainly contain talc carbonate and chlorite traces. Carbonate is typically dolomite (magnesium and calcium carbonate) or magnesium carbonate (magnesite). Talc-carbonate ores are processed to remove associated minerals and produce pure talc concentrate. Talc carbonate provides lower viscosity and better scrub resistance than other talc types. The carbonate deposits are widely used in the paints & coatings, construction, cosmetics, and personal care industries.
Based on end-use industry, the talc market is segregated into plastics, pulp & paper, ceramics, paints & coatings, rubber, pharmaceuticals, food, and others. The pulp & paper segment held the largest market share in 2022. Talc use improves the properties of finished products and reduces costs of production. Talc is organophilic and absorbs impurities such as pitch and resin particles from the process. Hence, talc is used as a cleaner for the wet-end system of a paper machine. It also prevents agglomeration. Therefore, it improves the functioning of a paper machine.
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Impact of COVID-19 Pandemic on Global Talc Market:
In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. COVID-19 pandemic caused supply chain disruptions in the chemical & materials industry and hampered the talc market growth. Adverse effect of the pandemic on manufacturing industries negatively impacted the demand for talc from these industries.
However, various economies have started reviving their operations. With this, the demand for talc started increasing. The rising use of talc in plastics, paper, ceramics, and other manufacturing industries is expected to offer lucrative opportunities for the global talc market during the forecast period.
Global Talc Market: Competitive Landscape
Elementis Plc, Golcha Minerals Pvt Ltd, Imerys SA, IMI Fabi SpA, Liaoning Aihai Talc Co Ltd, Minerals Technologies Inc, Nippon Talc Co Ltd, SCR-Sibelco NV, Sun Minerals Pvt Ltd, and Xilolite SA are among the major players operating in the global talc market. Market players are constantly focusing on strategies such as investments in research & development activities.
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