Talc Market Size, Share - Segmented by Deposit, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global talc market is expected to reach USD 2,342.17 million in 2018. The market studied is anticipated to reach USD 2,976.72 million by 2023, registering a CAGR of about 4.91% over the period 2018-2023.
Increasing Demand for Industrial & Marine Coatings
Talc is used in industrial coatings which provides benefits such as corrosion protection, solvent reduction, and good adhesion. Talc increases the solid content along with pigment volume concentration of coatings thereby decreases the VOC content and formulation cost. Growing VOC regulations in Europe and North America is increasing the demand for talc in industrial coatings. Europe has been strict in adopting environmental regulations regarding VOC’s. The manufacturers in Europe are moving from low volume solid products and increased higher volume solids products. New England States have adopted regulations which requires facilities to reduce VOC emissions. These regulations are forcing the paint manufacturers to switch to low VOC content coatings. Also, EPA is reviewing and ensuring that the rules meet RACT (Reasonably Available Control Technology), which is lowest level of emissions, and achieve the emissions reduction projected. Talc is used in marine coatings as it is inert, platy, hydrophobic material and best suitable for marine applications in ships, submarines etc. Hydrophobic nature of talc prevents it from corrosion and increases its demand. Growing shipbuilding activities are driving the market for talc.
Plastic & Rubber Industry is the Largest Consumer
In plastic manufacturing, talc is mainly used as a filler. Talc particles have platy shapes which help to increase the stiffness of products such as polypropylene, vinyl, polyethylene, nylon, and polyester. This also increases the heat resistance ability of these products as well as reduce shrinkage. Talc also enhances the properties of plastic by improving hardness, tensile strength, toughness, impact absorption, stability as well as electrical insulation. Furthermore, being a good insulator it decreases the energy loss from electrical devices. The production of plastic is increasing globally over time which is expected to boost the demand for talc over the forecast period. In rubber manufacturing, talc helps to give bounce property to the rubber as well as it prevents the rubber from stickiness. Properties such as high heat resistivity and bonding qualities of talc make it an applicable choice for rubber application. Additionally, talc also helps to improve the mechanical properties of rubber compounds. It helps in the reduction of gas permeability and electrical conductivity. These properties are driving the demand for talc in the rubber industry which is expected to boost the global talc market at a high rate over the forecast period.
Asia-Pacific Region to Dominate the Market
In 2017, the Asia-Pacific region dominated the global market share. The trend is expected to continue during the forecast period owing to the demand for plastics, rubber, paints & coatings, pulp and paper products in countries such as China and Inda. The coatings industry in China produced more coatings in the first two quarters of 2017, with output reaching 9.6 million tons, with a 10.5% increase over the same period in 2016. This growth was led by development in infrastructure, real estate, home appliances, and home furniture. The ongoing growth in the paints and coatings industry in India is supported by the growth in the country’s automobile industry, new construction in the housing segment and improving infrastructure industry throughout the country. The increasing consumption from the end-user industries in the region is to surge the usage of talc through the forecast period.
Key Developments in Talc Market
December 2017: IMI Fabi announced the completion of the new crushing plant at Brusada-Ponticelli-Valbrutta mine in Lanzada, Italy.
February 2017: Imerys introduced JetFil® V625C and V700C talc for reinforcement for the plastic compounding industry.
The major players include - Imerys Talc, Mondo Minerals, IMI Fabi, Minerals Technologies Inc., Nippon Talc Company Limited, Golcha Minerals, and Natural Minerals (Superior Materials), among others.
Talc Market Report Summary
Asia-Pacific, North America, South America, Europe, and Middle East & Africa
IMI Fabi SpA, Anand Talc, Golcha Minerals, Guangxi Guilin Longsheng HuaMei Talc Development Co,. Ltd., Imerys Talc, and Liaoning Aihai Talc Company Limited, among others.
Report offers the latest trends, growth prospects, industry competitiveness, major players, value chain, regional market analysis, market sizing and forecast to 2023
Reasons to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To identify the end user that is expected to dominate the market
To identify the regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customize Talc Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.