Pune, India, Nov. 07, 2023 (GLOBE NEWSWIRE) -- According to our new research study on “Talc Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Deposit Type, End-Use Industry, and Geography,” the talc market size was valued at US$ 1.99 Billion in 2022 and is expected to reach US$ 2.93 Billion by 2030; it is estimated to record a CAGR of 5.0% from 2022 to 2030. The market growth is attributed to growing use of talc in paper & pulp industry and increasing demand from various end-use industries.
Talc Market: Competition 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 key players operating in the global talc market. These players focus on providing high-quality products to fulfill customer demand. Also, they focus on strategies such as investments in research and development activities and new product launches.
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Talc Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 1.99 Billion in 2022 |
| Market Size Value by | USD 2.93 Billion by 2030 |
| Growth rate | CAGR of 5.0% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| No. of Pages | 167 |
| No. of Tables | 87 |
| No. of Charts & Figures | 93 |
| Historical data available | Yes |
| Segments covered | Deposit Type, and End-Use Industry |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | 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 |
In 2022, Asia Pacific held the largest share of the global talc market. Asia Pacific is one of the largest crude and processed talc-producing regions globally. The region is home to major manufacturers producing lightweight plastics for automotive components. Rapid industrialization and a surge in disposable income of the middle-class population of emerging economies are expected to drive the demand for talc in Asia Pacific. According to the International Organization of Motor Vehicle Manufacturers (OICA), vehicle production in Asia-Oceania increased from 44.2 million in 2020 to 46.7 million vehicles in 2021.
Growing Paper & Pulp Industry Bolsters 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 the 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. Thus, the growing use of talc in the paper & pulp industry bolsters the market growth.
Talc Market: Segmental Overview
Based on deposit type, the talc market is segmented 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. These deposits are often found in metamorphic rocks and can be considered a subtype of metamorphic deposits. In talc carbonate deposits, the formation of talc is often linked to the alternation of pre-existing rocks rich in magnesium-rich minerals. Talc replaces these minerals under the influence of metamorphic conditions, leading to the development of talc-rich rocks. Talc-carbonate ores are processed to remove associated minerals and produce pure talc concentrate. Based on end-use industry, the talc market is segmented into plastics, pulp & paper, ceramics, paints & coatings, rubber, pharmaceuticals, food, and others. The talc market share of the pulp & paper segment was notable in 2022. In the pulp & paper industry, talc is used as a paper filler because it has a minimal negative effect on sheet strength and improves ink receptivity by a large margin. It also enhances opacity and brightness and reduces gloss. Talc can be used in paper recycling and the new production of paper, pulp, and cardboard as filler. Talc use improves the properties of the finished products and reduces production costs..
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Impact of COVID-19 Pandemic on Talc Market
The COVID-19 pandemic adversely affected economies and industries in various countries due to lockdowns, travel restrictions, and business shutdowns. The chemicals industry was severely affected by disruptions in supply chains and shutdowns of production plants in the initial phases of the pandemic. The crisis caused disruptions in the global supply chain due to factory shutdowns, transportation restrictions, and labor shortages. These upheavals hindered the availability of chemicals and packaging components, leading to potential supply chain delays and increased operating costs for talc manufacturers. The COVID-19 pandemic has led to an increased demand for certain products, such as pharmaceuticals, healthcare supplies, and essential consumer goods.
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