Talc Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Talc Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The talc market size was estimated at over USD 2.3 billion, and the market is projected to register a CAGR of over 4% during the forecast period (2021-2026).

The market was negatively affected due to COVID-19 in 2020. This negatively affected the market growth. However, the condition is expected to recover in 2020, which is expected to drive the market during the forecast period.

Key Highlights

• Over the short term, increasing demand for industrial and marine coatings is driving the demand for talc, as it is used in industrial coatings, which provide benefits, such as corrosion protection, solvent reduction, and good adhesion.
• On the flipside, health issues in cosmetic products and the impact of the COVID-19 pandemic are expected to hamper the growth of the market studied.
• The growing demand for thermoplastics in the aerospace industry is likely to act as an opportunity in the future. Thermoplastics are expected to play an increasingly important role in accelerating future aircraft construction, as they offer multiple advantages, including very short production times and low overall costs, compared to their thermoset counterparts.
• Asia-Pacific dominated the talc market across the world, owing to the rising plastics market in China and presence of white talc reserves in countries, like India.

Key Market TrendsIncreasing Demand from the Plastics and Rubber Industry

• 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 reduces shrinkage.
• Talc also enhances the properties of plastic by improving hardness, tensile strength, toughness, impact absorption, stability, and 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 provide bounce property to the rubber, as well as prevents the rubber from stickiness. Properties, such as high heat resistivity and bonding qualities of talc, make it an applicable choice for rubber application.
• Talc helps to reduce the viscosity of rubber compounds, thus easing the processing of molded parts. It also develops extrudate qualities and enhances the UV radiation resistance ability of exterior parts of automotive profiles. Talcs function as insulators in the process of tire manufacturing and make excellent processing aids.
• 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.
• All the aforementioned factors, in turn, are expected to drive the demand in the talc market during the forecast period.

Asia-Pacific Region to Dominate the Market

• The Asia-Pacific region dominated the global market share with the growing demand from the countries such as China, India, and Japan.
• China has a huge plastics market that requires a high supply of talc to function. In China, talc is found in 15 provinces, with Liaoning, Shandong, Guangxi, Jiangxi, and Qinghai as the prominent areas that account for more than 90% of the total reserves.
• China stopped manufacturing its own pulp, which resulted in the rise of pulp prices which is expected to hinder the growth of talc consumption in the pulp and paper industry of the country.
• India is one of the few countries with white talc reserves. The deposits of talc are found throughout the country. Most of the white talc produced is consumed in the country itself.
• Most of the commercial talc production of talc comes from Rajasthan. The two leading talc producers in the country (Golcha Group and Golcha Associated) are based in Jaipur, Rajasthan, catering cosmetics and polymer industry with talc of superior grades.
• Apart from these producers, the country has several small-scale producers that produce standard or low-quality grades.
• According to the IPMA (Indian Paper Manufacturers Association), although India’s pulp and paper market is growing by around 6-7% per annum, the industry witnessed a drop in production over the past three years. This contrasts with consumption, which is exhibiting a steady rise.
• The plastics sector of Japan is stable and balanced in terms of proportion of production to demand. The exports of plastics from the country are always higher than the imported amount. Notably, the trade is primarily with Asian countries.
• However, all the end-user industries except pharmaceuticals faced a negative impact due to COVID-19 in 2020, which slowed the growth of the market studied. However, the condition is expected to recover in 2021, thereby driving the talc market during the forecast period.
• All these factors, in turn, are expected to drive the demand for talc in the region during the forecast period.

Competitive Landscape

The talc market is moderately consolidated. The top five players accounted for around 30% share of the market. The top players of the market include Imerys, Mineral Technologies Inc., IMI Fabi SpA, Nippon Talc Co. Ltd, and Golcha Group, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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