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Global Global Talc Market 2021 to 2027 Qualitative and Quantitative Assessment by Industry Analysis across the Value Chain
Global Global Talc Market 2021 to 2027 Qualitative and Quantitative Assessment by Industry Analysis across the Value Chain
The global Talc market is valued at US$2.7 billion in 2020. It is expected to grow at a CAGR of 4.6% during the forecast period, mainly due to the increasing demand for Talc in the production of lightweight plastic parts extensively used in the automotive industry.

Global Global Talc Market 2021 to 2027 Qualitative and Quantitative Assessment by Industry Analysis across the Value Chain

The global Talc market is valued at US$2.7 billion in 2020. It is expected to grow at a CAGR of 4.6% during the forecast period, mainly due to the increasing demand for Talc in the production of lightweight plastic parts extensively used in the automotive industry.

Talc, also known as Soapstone or Steatite, is a hydrous Magnesium Silicate mineral with a chemical composition of 63.5% Silica (Si02), 31.7% Magnesia (MgO), and 4.8% water (H20). Talc is widely used in many end-use industries such as pulp and paper, paints and coatings, and plastics and rubber, and this is expected to be one of the main factors driving market growth over the forecast period.

ChemIntel360's global Talc market study is a 173-page report containing in-depth analysis on historical and forecasted spending, consumption patterns in the sector, and related market dynamics such as trends, drivers, and challenges. The study offers granular value and volume data from a global, regional, and end-use industry perspective.

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The base year is 2020 for the study with historical data between 2015 and 2020. The data forecast has been provided for the years between 2021 and 2026.

Key insights from the Global Talc report

Insights on End-Use Industry

Talc has multiple applications across many end-user industries such as pulp and paper, paints and coatings, plastics and rubber, food and beverage, personal care, and pharmaceuticals. Due to its fine and platy shape, Talc particles are used as fillers in plastics manufacturing. Moreover, it is used as a nucleating agent in biopolymers and semi-crystalline polymers, an anti-blocking agent in polyethylene, and helps restore recycled plastics' mechanical properties. Its inherent properties, such as resistance to heat, electrical insulation, and tensile strength, make it an ideal choice for lab countertops and electrical switchboards.

Furthermore, Talc acts as a coating agent in the paper manufacturing process to improve the quality of the offset papers and colored papers and labels.

In rubber manufacturing, Talc is often used as a compounding material for certain types of hard rubber. It also acts as a reinforcing agent to improve mechanical properties such as resilience, toughness, and tensile strength.

Additionally, Talc is also an excellent lubricant and dusted on the molds through which un-vulcanized rubber is extruded to form wire, cables, tires, etc. This process prevents the rubber molds from stick

Regional Insights

Asia-Pacific was the largest and fastest-growing market for Talc in 2020, mainly driven by robust demand from India, China, and Japan. China is the leading producer of Talc, with 90% of its reserves found in 15 provinces, including Liaoning, Shandong, Guangxi, Jiangxi, and Qingha.

India is among only a handful of global countries with White Talc deposits, most of which is consumed locally. Golcha Group and Golcha Associated, based in Rajasthan, are the primary producers of commercial Talc and cater to the cosmetics and polymer industry.

Meanwhile, the U.S. is the third-largest consumer of Talc globally, after China and India, and a net importer of the mineral. Talc imports in the U.S. are driven by growing demand from the automotive plastics market.

Market Dynamics

Trends

The global Talc industry is currently witnessing a phase of robust technological advancements due to significant and sustained R&D investments by Talc manufacturers such as Imerys, IMI FabiSpA, and Minerals Technologies. Consistent investment in upgrading processes and technology in the Talc industry has led to the development of new grades of Talc, used as barrier coatings in paperboard food packaging. For instance, Imerys has developed a range of hyper platy pigments, which improves the barrier performance of water-based coating solutions for the food packaging industry. In January 2020, Indian Talc producer Golcha Associated developed new grades of finer and purer Talc mainly to service the plastics and paint industries.

Drivers

The growing demand from industries such as pulp and paper, paints and coatings, and plastics and rubber, is driving growth in the global Talc market.

The plastic industry uses Talc as fillers. The platy shape of Talc particles is used to increase rigidity in Polypropylene, Vinyl, Polyethylene, Nylon, and Polyester. The usage of Talc in plastics improves its hardness, tensile strength, toughness, impact absorption, and stability. It also makes these products heat resistant and reduces shrinkage. The increasing production of plastics globally is expected to increase the demand for Talc over the forecast period.

The pulp and paper industry is the second-largest consumer of Talc after plastics, using the mineral as a pitch and sticky control agent, coating pigment, and multifunctional filler. It reduces paper surface friction, crepe wrinkles, and core burst problems. Talc being organophilic absorbs impurities, neutralizes stickiness throughout the pulp and paper recycling process, and is used as a cleaner of the wet-end system of the paper machine.

Talc is extensively used in industrial paints and coatings, wood lacquers, printing inks, fillers, etc. Due to its barrier properties, Talc restrains water and other corrosive agents from entering paints and coatings, reducing corrosion, peeling, and bubble formation.

Moreover, Talc improves the mechanical properties of rubber compounds. Its heat resistance and bonding qualities make it an ideal choice for rubber manufacturers. Also, Talc provides bounce properties in rubber and prevents the rubber from sticking. It decreases the viscosity in rubber, which in turn helps to process molded parts. Also, it has extrudate qualities that protect the exteriors of automotive profiles from UV radiation. Further, it acts as an insulator in tire manufacturing processes.

COVID-19 Impact

COVID-19 induced lockdowns, travel bans, and business shutdowns have adversely impacted the global Talc market. The lockdowns led to a temporary closure of many end-user industries such as pulp and paper, paints and coatings, and automotive, thereby drastically reducing the demand for Talc. The major raw material suppliers to the Talc industry, globally, India and China, were the worst affected due to extended lockdowns.

However, as the world emerges from the worst phase of the pandemic and industrial activity resumes, the market is expected to rebound quickly, mainly on the back of pent-up demand globally.

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Key Companies

The key companies operating in this market are Mondo Minerals(acquired by Elementis), Minerals Technologies, Imerys,Nippon Talc, GolchaGroup, IMI Fabi, Liaoning AihaiTalc, Cnps Guangxi Guilin LongshengHuamei Talc Development CO.Ltd., Sibelco, and Xilolite.

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