Talc Market by Deposit Type (Talc Carbonate, Talc Chlorite), End-use Industry (Plastics, Pulp & Paper, Ceramics, Paints & Coatings, Cosmetics & Personal Care, Pharmaceuticals, Food), and Region (Asia Pacific, North America) - Global Forecast to 2023
The talc market is projected to grow at a CAGR of 4.6% from 2018 to 2023
The global talc market is projected to grow from an estimated USD 2.68 billion in 2018 to USD 3.35 billion by 2023, at a CAGR of 4.6% from 2018 to 2023. 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. Lawsuits related to the carcinogenic nature of talcum powder is a restraint in the market. The presence of a number of substitutes for talc is also a factor hindering the growth of the talc market.
The ceramics segment is expected to be the fastest-growing end-use industry segment of the talc market during the forecast period
The ceramics end-use industry segment is projected to be the fastest-growing end-use industry of the talc market from 2018 to 2023. 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.
Asia Pacific is expected to account for the largest market share of the talc market in 2018
Growing demand for talc from various end-use industries such as automotive, cosmetics & personal care, pulp & paper, and food are responsible for the growth of the talc market in the Asia Pacific region. Moreover, the continuously increasing population of emerging economies such as China and India is also driving the growth of the Asia Pacific talc market.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 – 42 %, Tier 2 – 25%, Tier 3 – 33%
By Designation: C level – 33%, Director level – 25%, Others – 42%
By Region: North America – 44%, Europe – 25%, Asia Pacific – 19%, Middle East & Africa – 6%, South America – 6%
As part of the qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by market players, such as Imerys (France), Mondo Minerals (Netherlands), Minerals Technologies (US), IMI Fabi (Italy), Golcha Minerals (India), and Nippon Talc (Japan).
The report defines, segments, and projects the talc market based on deposit type, end-use industry, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, opportunities, and industry-specific challenges. It also strategically profiles key players and comprehensively analyzes their market shares and core competencies. The report analyzes competitive developments, such as new product launches/developments undertaken by the key players.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenue numbers for the overall talc market and its subsegments. This report will help stakeholders better understand the competitive landscape and gain insights to position their businesses better and make suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, challenges, and opportunities.