Global Talc Market Insights Forecasts to 2033

• The Global Talc Market Size was Valued at USD 2.73 Billion in 2023
• The Market Size is Growing at a CAGR of 3.42% from 2023 to 2033
• The Worldwide Talc Market Size is Expected to Reach USD 3.82 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

 

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The Global Talc Market Size is Anticipated to Exceed USD 3.82 Billion by 2033, Growing at a CAGR of 3.42% from 2023 to 2033.

 

Market Overview

Talcum or talc is an elementary magnesium silicate (Mg3Si4O10(OH)2) that occurs as a metamorphic mineral in veins, foliated masses, and certain rocks. It is commonly related to serpentine, tremolite, forsterite, and virtually all carbon with lower metamorphic facies. Talc can be used in products to engross moisture, avoid caking, improve consistency, and make a product opaque. Talc is an ingredient used in personal care products such as personal care products such as talcum powder, baby powder, and eyeshadow. It is often used in some food items such as rice and chewing gum and the making of pill tablets. Increasing demand from the automotive and food sectors to make high profit margins for market players enhances the growth of the market. The use of talc in the cosmetic industry for emerging new cosmetic brands would fuel the growth of the market during the forecast period. Growing advancements in research and development coupled with the integration of bio-based solutions dominate the market over the forecast period. Moreover, talc is utilized in a variety of applications, including paints and coatings, polymers, agriculture, and food. In the paint industry, talc is used to reduce the amount of primary pigment in paint manufacture, which lowers manufacturing costs. Talc has been discovered in Sikkim as intercalations in quartzite deposits in the Ranikhola-Mansari area of West Sikkim. An estimated reserve of approximately 80,000 tonnes of the mineral exists in the leased land of M/S Sikkim Pvt. Ltd., with some more being mined by villagers through rat hole mining for export to Siliguri. The composition of talc in the area includes 45.92 to 63.60 SiO2, 24.45 to 37.45 MgO, 0.10 to 1.79 CaO, 1.60 to 7.86 Al2O3, 0.20 to 3.04 Fe2O3, 0.25 to 2.00 Alkalis, and 1.00 to 5.00 LOI.

 

Report Coverage

This research report categorizes the market for the global talc market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global talc market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global talc market.

 

Driving Factors

Talc is frequently utilized in the production of plastics, ceramics, paper, paint, and other materials. The market grows in tandem with the increase in demand for these products. The growing use of talc in automated parts such as interior and exterior trim components, electrical housing, and under-the-hood applications due to its properties such as heat resistance, low coefficient of thermal expansion, and good electrical insulation is expected to drive demand for talc in the automotive industry. Developments in technology have led to the growth of new applications for talc, such as in the manufacturing of nanocomposites, which are used in a variety of industries including aerospace, electronics, and construction. These advances are expected to drive the growth of the talc market.

 

Restraining Factors

Legal difficulties and lawsuits over talc's potential health risks, such as ovarian cancer, have imposed significant financial burdens on manufacturers. These ongoing problems have adversely affected their operations and diminished market awareness, causing uncertainties and constraints in the talc industry.

 

Market Segmentation

The global talc market share is classified into form, deposit type, and end-user.

• The powdered talc segment holds the largest share of the market during the forecast period.

Based on form, the global talc market is classified into powdered talc and granule talc. Among these, the powdered talc segment holds the largest share of the market during the forecast period. Talc powder suppliers in India are at the forefront of supplying pure talc to the pharmaceutical industry. The purest form of powdered hydrated magnesium silicate can be refined talc powder. Purified Talc is considered safe for human consumption by regulatory organizations all over the world due to its physiochemical inertness. Furthermore, pure talc possesses several natural, physical, and mechanical properties that make it perfect for medicinal applications. Purified talc that meets IP, BP, and USP standards is an appropriate excipient for the production of tablets, capsules, dermatological powders, and creams. These are the key factors responsible for the growth of the market. Talc in powdered form is used to absorb moisture, prevent caking, improve consistency, and make a product opaque. Purified talc powder is the purest powdered form of hydrated magnesium silicate. Because of its physiochemical inertness, pure talc is considered safe for human intake by regulatory agencies around the world.

 

• The talc carbonate segment is anticipated to hold a significant share of the market during the projected time frame.

Based on deposit type, the global talc market is classified into talc chlorite, talc carbonate, and others. Among these, the talc carbonate segment is anticipated to hold a significant share of the market during the projected time frame. Talc-carbonate deposits of minerals are primarily composed of carbonate with trace amounts of chlorite. Talc-carbonate minerals are treated to eliminate other minerals and yield pure talc concentrate. Talc carbonate has lesser viscosity and more scrub resistance than other talc kinds. Carbonate deposits are extensively employed in the paints and coatings, construction, cosmetics, and personal care industries. The industry is primarily influenced by the presence of talc carbonate deposits, which account for the majority of the talc market share. These deposits, which are classed based on their purity and excellence in talc manufacturing, are critical for enterprises that require high-quality ingredients for their products. Talc carbonate's distinguishing characteristics, such as exceptional whiteness and impressive heat resistance, make it in high demand in businesses that produce higher-quality properties, such as cosmetics and polymers.

 

• The paints & coatings segment held the largest market share over the forecast period.         

Based on end-users, the global talc market is classified into pulp & paper, paints & coatings, rubber, and ceramics. Among these, the paints & coatings segment held the largest market share over the forecast period. Talc has various physical and mechanical properties that make it ideal for producing decorative paints and industrial coatings. Talc also strengthens paint films by increasing adhesion and preventing sagging, as well as preventing paint on walls from peeling and splitting. Talc's lamellarity enables the paint to cover any flaws or gaps in a uniform layer that spans any surface. Talc also improves moisture and weather resistance in varnishes and paints since it is hydrophobic, opaque, and provides UV protection. Talc is both opaque and bright, increasing the color of the paint by screening any imperfections or discolorations in the base material.

 

Regional Segment Analysis of the Global Talc Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia-Pacific market accounted for the largest revenue share during the forecast period.

 

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Asia-Pacific market accounted for the largest revenue share during the forecast period. This is owing to the increasing use of polymer and composite automotive materials by vehicle makers, which has become prevalent as a result of continued technological advancements and increased consumer demand. It reduces the vehicle's overall weight, boosting fuel efficiency. These long-lasting yet lightweight plastic components are made of polypropylene reinforced with talc powder, which helps to withstand corrosion and abrasion. Furthermore, the rapid development of vehicle Original Equipment Manufacturer (OEM) parts, as well as the rising automotive recycling sector, are driving revenue growth in the region. Furthermore, increased demand for plastic in a variety of sectors is helping to drive market revenue development.

 

North America market accounted for the fastest CAGR growth during the forecast period. Talc is used as a pleurodesis agent to prevent pneumothorax and recurrent pleural effusion in medicine. The growing demand for industrial and marine coatings is also expected to increase the need for talc, which is used in industrial layers to give benefits such as corrosion protection, solvent reduction, and high adhesion can enhance the growth of the market.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global talc market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Elementis Plc
• Golcha Group Minerals Technologies Inc
• Nippon Talc
• Johns Manville
• IMI Fabi SpA
• ANAND TALC
• Chanda Minerals
• Imerys
• AKJMinchem.
• Imerys
• Mondo Minerals
• Minerals Technologies
• Golcha Minerals
• others

 

Key Market Developments

• In January 2021, specialty Minerals Inc. (SMI), a part of Minerals Technologies Inc., increased prices for its mineral products by 3 to 10%, depending on the terms and conditions of each individual customer contract. The price increases enable SMI sustain momentum in mining, processing, and new product technologies while also reducing rising costs. Based on the product line, talc production at Barretts, Montana, and Bay City, Texas, will increase by 5% to 10%.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global talc market based on the below-mentioned segments: 

 

Global Talc Market, By Form

• Powdered Talc
• Granule Talc

 

Global Talc Market, By Deposit Type

• Talc Chlorite
• Talc Carbonate
• Others

 

Global Talc Market, By End-Users

• Pulp & Paper
• Paints & Coatings
• Rubber
• Ceramics   

 

Global Talc Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa