DUBLIN--(BUSINESS WIRE)--The "Talc Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The talc market size is expected to grow at a CAGR of over 3.6% during the period 2020-2026.
The overall cost reduction of paints is increasing the application of talc in the 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.
GLOBAL TALC MARKET SEGMENTATION
The global talc market research report includes a detailed segmentation by deposits, end-users, geography. 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 properties of rocks play an important role in determining the application of carbonate in various fields.
The carbonate deposits in the market will grow due to their wide usages in paint and coatings, construction, cosmetics, and personal care industries. The deposits depend on the transformation of existing rocks under hydrothermal activity. Talc chlorites are widely used in the ceramics industry to improve thermal shock resistance.
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.
INSIGHTS BY GEOGRAPHY
In APAC, the acceptance of talc is higher compare 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.
KEY QUESTIONS ANSWERED
- How big is the global Talc Market?
- What are the key driving factors for the growth of the talc market?
- Which region has the highest growth rate in the market?
- Who are the key players in Talc Market?
- Which Segment has the largest share in the talc market?
- Elementis PLC
- Mineral Technologies Inc
- IMI Fabi Spa
- Liaoning AIHAI Talc CO., Ltd
Other Prominent Vendors
- Superior Material INC
- Golcha Group
- Guangxi Longsheng Huamei Talc Development Co. Ltd
- Sibelco Group
- Anand Talc
- Lithos Industrial Minerals GmBh
- Natural Minerals
- Beihai Group
- Haichen Minchem Co., Ltd
- China Haicheng City Pin Yang Talc Mining Co., Ltd
- SKKU Minerals
- Talc USA
- SAE Manufacturing Specialties Corp
- First Source Worldwide
- Barite World
- Aldon Corporation
- Perm-O-Seal Automotive Limited
- Heritage Plastics Inc
- The Kish Company Inc
- Atlantic Equipment Engineers
- Chicago Protective Apparel Inc
- Guangxi Guilin Talc Development Co., Ltd
- Laizhou Talc Industry Corporation Limited
- Yantai Tianhao Mining Co., Ltd
- Haicheng Xinda Mining Industry Co., Ltd
- Microfine Natural Microns India Private limited
- Allied Talc
- Chirag Minerals
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