South & Central America Talc Market Forecast to 2028 - Regional Analysis - by Deposit Type (Talc Chlorite and Talc Carbonate), and End Use Industry (Plastics, Pulp and Paper, Ceramics, Paints and Coatings, Rubber, Pharmaceuticals, Food, and Others)

South & Central America Talc Market Forecast to 2028- Regional Analysis- by Deposit Type (Talc Chlorite and Talc Carbonate), and End Use Industry (Plastics, Pulp and Paper, Ceramics, Paints and Coatings, Rubber, Pharmaceuticals, Food, and Others)

The South & Central America talc market is expected to grow from US$ 80.59 million in 2022 to US$ 99.35 million by 2028. It is estimated to grow at a CAGR of 3.6% from 2022 to 2028.

Increasing Demand from Various End-Use Industries Fuels South & Central America Talc Market

Talc is used in various end-use industries such as paints & coatings, plastics, agriculture, and food. In the paint industry, talc use reduces the use of primary pigment in paint production, which reduces manufacturing costs. Talc reinforces the paint film and improves the durability and stain resistance of paint. Owing to its rust-inhibitive and corrosion-resistance properties, the finish lasts longer. Also, talc as an extender increases the viscosity of a paint. The strong growth of the construction, automotive, and industrial sectors propels demand for paints and coatings. In the plastics industry, the use of talc improves the characteristics of plastics such as quality, aspect ratio, particle size distribution, and whiteness. The high demand for plastics in automotive, construction, consumer goods, electrical & electronics, and other industries boosts the need for talc. In the agriculture industry, talc is an effective anticaking agent and dispersing agent for pesticides and fertilizers. Also, in agricultural chemicals, talc has been considered as an ideal inert carrier. Increasing demand for fertilizers due to the growing agricultural production in different regions bolsters the need for talc. Further, food-grade talc is hydrophobic. Therefore, it functions as an anticaking agent by coating other substances and making them water-repellent. It also prevents lump formation. This property makes talc an ideal ingredient to be used in starch, chocolates, chewing gums, baked goods, dried fruits, cheese, seasoning, and table salt. The growing demand for all these products boosts the use of talc in the food industry. Therefore, the rising demand for talc from end-use industries is driving the growth of the South & Central America talc market.

South & Central America Talc Market Overview

The South & Central America talc market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America. South & Central America is one of the largest producers of pulp and paper due to the wide availability of raw materials. Talc is widely used to reduce pitch-related deposits during pulp, paper, and board production and improve machine performance. According to the Indústria Brasileira de Árvores (Ibá) and Food and Agriculture Organization (FAO), Brazil held 11.3%, and Chile held 2.8% of global pulp production in 2020. Thus, the large quantity of pulp and paper production in the region is anticipated to drive the demand for talc.

Further, according to the International Organization of Motor Vehicle Manufacturers (OICA), the total number of vehicles produced in South & Central America grew from ~2.3 million in 2020 to 2.7 million in 2021, registering an increase of 18%. In addition, rising car ownership due to increased spending power and higher living standards is expected to boost the market for automotive refinishes. This growing production of vehicles is boosting the demand for talc in the region.

Exhibit: South & Central America Talc Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Talc Market Segmentation

The South & Central America talc market is segmented into deposit type, end use industry, and country.

Based on deposit type, the South & Central America talc market is segmented into talc chlorite and talc carbonate. The talc carbonate segment held a larger share of the South & Central America talc market in 2022.

Based on end use industry, the South & Central America talc market is segmented into plastics, pulp and paper, ceramics, paints and coatings, rubber, pharmaceuticals, food, and others. The pulp and paper segment held the largest share of the South & Central America talc market in 2022.

Based on country, the South & Central America talc market is segmented int o Brazil, Argentina, and the Rest of South & Central America. The Brazil dominated the share of the South & Central America talc market in 2022.

Elementis Plc; Golcha Minerals Pvt Ltd; Imerys SA; Liaoning Aihai Talc Co Ltd; Minerals Technologies Inc; SCR-Sibelco NV; and Xilolite SA are the leading companies operating in the South & Central America talc market.

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