Hydrated magnesium silicate composed mineral is known as talc and is a vital manufacturing and commercial mineral. Talc exhibits properties such as glint, gentleness, purity, and fragrance holding. Talc also offers heat resistance, absorption of oil, grease, and electricity. It is said to be the softest known metal and can be cut by knife. It is insoluble in water and soluble in mineral acids. Talc is used as a component in ceramics, talcum powder, paints, rubber, roofing materials, and insecticides. Talc, because of its heat resistant ability is used in electrical switchboards. It is widely used to make baby powders to avoid rashes caused due to diapers.
The global talc market is growing at a significant pace owing to the increase in demand for talc plastic, especially from automotive industry. Moreover, talc offers various superficial properties such as toughness, creep resistance, thermal conductivity, impact resistance, and firmness among others in plastic parts employed in the engineered plastics, automotive industry, and electrical appliances. In addition, stringent government norms regarding lowering the content of volatile organic compounds during the production of talc which leads to ill environmental effects such as global warming is one of the major elements anticipated to hamper the growth of global talc market over the forecast period. Also, increase in product innovation and new product development may pose bright opportunities for the manufacturers in the global talc market. Furthermore, emerging markets such as Asia-Pacific and Latin America offer cheap labor due to which there is a significant surge in the overall demand for talc, especially from the major end-use industries including automotive, packaging, cosmetics, and ceramics industry among others.
The global talc market can be segmented based on deposit, end-use industry, and region. Talc chlorite, and talc carbonate are the various talc based on composition present in the market. Talc is used in the various end-use industries such as paper & pulp, ceramics, cosmetics, paints & coatings, pharmaceuticals, food, and plastics. Talc carbonate deposit was the largest segment in the current year as this deposit offers higher purity compared to other deposits. Talc carbonate is readily available and hence is able to meet the demand from end-use industry. Based on the consumption from end-use industries, plastics is the major revenue contributor to the global talc market in the current year. Talc offers increased toughness, rigidity, thermal conductivity, impact resistance, creep resistance and chemical resistance for plastic products, thus increasing the demand for those products. The segment is also projected to be the fastest growing segment during the forecast period.
The market for talc is segmented into regions such as North America, Europe, Asia-Pacific, Latin America and Middle-East Africa (MEA). Asia-Pacific was the largest market for talc in 2015 owing to the increased demand for talc from automotive, plastics, paper & pulp, ceramics, and cosmetics industries. The major revenue contributors from the region were India, China, and South Korea. Substantial growth of talc market is projected from developed economies in North America and Europe. Finland, Greece, Macedonia, Hungary, Norway, France, Austria, Romania, Sweden, Portugal, and United Kingdom are the major revenue contributors in the region.
Key players involved in the global talc market are focusing on key market strategies including mergers and acquisitions with local as well as established players. Moreover, companies are also focusing on the R&D of adhesives from bio-based sources to meet the government regulation on the production of industrial adhesives with low VOC emission. The companies are also collaborating with local players to increase their reach across all geographies and earn huge profits. Partnership with multinational companies to strengthen their market reach and goodwill is also anticipated to be a major market strategy in the global talc market. Some of the major players involved in the manufacture and supply of talc market include Magnesita Refratarios SA, Mondo Minerals BV, Imerys SA, Minerals Technologies Inc., Huamei Talc Development Co. Ltd., Nippon Talc, Golcha Minerals, IMI Fabi, and American Talc Company.
Market by Deposit
· Talc Chlorite
· Talc Carbonate
Market by End-use Industry
· Paints & Coatings
· Paper & Pulp
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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