Talc Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deposit Type (Talc Chlorite and Talc Carbonate) and End-Use Industry (Plastics, Pulp & Paper, Ceramics, Paints & Coatings, Rubber, Pharmaceuticals, Food, and Others)

Talc Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deposit Type (Talc Chlorite and Talc Carbonate) and End-Use Industry (Plastics, Pulp & Paper, Ceramics, Paints & Coatings, Rubber, Pharmaceuticals, Food, and Others)

The talc market size is expected to grow from US$ 1,987.43 million in 2022 to US$ 2,628.30 million by 2028; it is estimated to register a CAGR of 4.8% from 2022 to 2028.

Talc is a core additive for all types of ceramics as it helps improve the vitrification process. It also assists in reducing firing temperatures and shortening firing cycles. Since talc has a high-temperature resistance, it improves the thermal shock resistance of ceramics and reduces fractures. In Europe, the ceramic sector is one of the strongest industrial sectors. Italy, Germany, Spain, France, the UK, Portugal, and Austria are among the major countries in Europe with a strong ceramics manufacturing sector. The countries export their products to different countries across the world. The Tile Council of North America (TCNA) released its 2021 US Ceramic Tile Market Report. As per the report, the total ceramic tile usage in the US was 3.11 billion square feet in 2021, a rise of 9.9% from the previous year. Further, the technical ceramics market in China is showing rapid growth due to the expanding electronics market in the country. Thus, the growing ceramics industry is expected to boost talc usage, which would offer lucrative opportunities for the talc market during the forecast period.

Based on deposit type, the talc market is bifurcated into talc chlorite and talc carbonate. The talc carbonate segment held a larger share in 2021 and is expected to register a higher CAGR from 2022 to 2028.

Based on end-use industry, the talc market is segmented into plastics, pulp & paper, ceramics, paints & coatings, rubber, pharmaceuticals, food, and others. The pulp & paper segment held the largest market share in 2022. The ceramic segment is expected to register the highest CAGR from 2022 to 2028. Talc can be used in several applications in the ceramic sector. It is used to manufacture ceramics products such as bathroom fixtures, pottery, ceramic tile, and dinnerware. Talc improves the firing characteristics and strengthens the finished product. Therefore, it is used as a filler in automotive cordierite, several tiles, and fireproof ceramics. Talc is a catalyst in the ceramic industry and has a high-temperature resistance. Adding talc enhances the mechanical and optical properties of ceramic material and glazes, and the combustion temperature is reduced. These benefits positively impact the production costs of ceramics.

In terms of region, the talc market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific held the largest market share in 2021 and is estimated to register the highest CAGR from 2022 to 2028. The market growth in this region is mainly attributed to rapid industrialization.

Elementis Plc, Golcha Minerals Pvt Ltd, Imerys SA, IMI Fabi SpA, Liaoning Aihai Talc Co Ltd, Minerals Technologies Inc, Nippon Talc Co Ltd, SCR-Sibelco NV, Sun Minerals Pvt Ltd, and Xilolite SA are among the key players operating in the talc market. These players engage in developing affordable and innovative products to meet the rising customer demands and expand their market share.

The overall talc market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the talc market.

Reason to buy

Progressive industry trends in the talc market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the talc market from 2020 to 2028
Estimation of the demand for talc across various industries
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
Recent developments to understand the competitive market scenario and the demand for talc across the globe
Market trends and outlook coupled with factors driving and restraining the growth of the talc market.
Decision-making process by understanding strategies that underpin commercial interest concerning the global talc market growth
The global talc market size at various nodes of market
Detailed overview and segmentation of the talc market as well as its dynamics in the industry
The talc market size in different regions with promising growth opportunities