ROCKVILLE, Md. , March 07, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global talc market to reach US$ 600 Mn in 2031, projecting a CAGR worth 4.8% from 2021-2031. According to the report, the market is likely to be valued at US$ 372.7 Mn by 2021-end. Extensive applications for polymer engineering along with other end use industries will likely propel future demand.
“Prominent talc manufacturers are capitalizing on the surging trend of developing user-friendly coating materials, devoid of toxic or harmful substances, including asbestos, resulting in a plethora of product launches”, says the Fact.MR analyst.
The talc market experienced stable expansion across the 2016-2020 historical period, registering a CAGR of nearly 4%. However, temporary disruption in manufacturing activities stalled growth prospects during the height of COVID-19. For instance, Johnson & Johnson Consumer Health ceased shipping hundreds of talc powder products in May 2020, including the Baby Powder portfolio, which represents approximately 0.5% of the North American market.
| Attribute | Details |
| Market Size Value in 2021 | USD 372.7 Million |
| Market Value Forecast in 2031 | USD 600 Million |
| Growth Rate | CAGR of 4.8% from 2021 to 2031 |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
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Furthermore, the company has decided to permanently discontinue shipping its talc powder products to the continent. However, this will have a negligible future impact, as other application areas, including paints & coatings, will sustain talc powder demand. Additionally, manufacturers are looking to develop asbestos-free talc products, particularly for the cosmetics segment in lieu of the detrimental effects of the same on human health.
Key Takeaways from the Market Study
- By form, powdered talc likely to surpass US$ 500 Mn in value by 2031
- Ceramics to remain an important end use industry, capturing over 1/4th of global demand
- Paints & coatings to be the fastest growing segment, expanding at 5% CAGR through 2031
- Talc carbonate deposits to generate absolute opportunity worth US$ 224 Mn through 2031
- 30% of talc sales to be led by the North American market
- Asia to emerge as the largest talc market, accounting for half of the global revenue
- Europe to account for at least 1 out of 5 talc sales across the 2021-2031 forecast period
Competitive Landscape
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature.
- In February 2021, Magris Resources Canada Inc. fully acquired the assets of all the subsidiaries of Imerys’ at the price of US$ 223 million. Imerys’s talc production is regarded as one of the best ingredients used for different industrial purposes, therefore, Magris Resources Canada Inc.’s acquisition can help them to gain a major competitive advantage in the U.S.
- Minerals Technologies Inc. offers talc products for multiple end use applications- including MicroTuff® AG and MicroTalc® for polyolefins for automotive parts & appliances, Talcron® and Sericron® talc series for paints & coatings and MicroTalc® and UltraTalc® for pharmaceuticals, foods and body powders respectively.
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Key Segments Covered
Form
- Powdered Talc
- Talc Lumps or Granules
End Use Industry
- Talc for Agriculture
- Talc for Ceramics
- Talc for Pharmaceuticals
- Talc for Paints & Coatings
- Talc for Cosmetics
- Talc for Pulp & Paper
- Talc for Food
- Talc for Other End Uses
Deposit Type
- Talc Chlorite
- Talc Carbonate
- Other Talc Deposit Types
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Region-wise Analysis of Talc Market –
Globally, it exported almost US$ 3.08 million worth of talc in 2020. Based on these trends, the market in Asia is expected to yield around 50% of global talc revenue.
North America represents a potential market for talc- especially across the automotive, cosmetic, rubber, and plastics industries. Increasing demand for paper recycling has also fuelled the growth of the talc market. A revenue share worth 30% is anticipated by Fact.MR for the North American market.
However, in recent years, the Food & Drug Administration has highlighted concerns related to talc usage in the cosmetic industry, given the presence of high asbestos concentrations.
Asia is expected to account for the majority of talc sales in the market. Extensive applications in paints and coatings as well as producing lightweight plastics for automotive components have impelled demand for talc across the continent.
In China, talc is often used to recycle paper, thus the paper industry continues to grow with this trend, which in turn also leads to the growth of the market. The domestic development of talc in China has also helped to flourish the business.
Talc production in Europe is estimated at 1.3 million tonnes per year. As talc is relatively inexpensive, it cannot cover the logistics costs associated with imports and exports.
According to Fact.MR, the market for talc in Europe is likely to account for 20% of global demand through 2031.
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Objectives of this Talc Market study are:
- To analyze and forecast the size of the talc market, in terms of value and volume
- To define, segment, and estimate the talc market based on deposit type and end-use industry
- To forecast the size of market segments, in terms of value, with respect to 5 main regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America
- To provide detailed information regarding key factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the talc market
- To strategically analyze micro markets with respect to individual growth trends, prospects, and contribution to the total market
- To analyze opportunities in the talc market for stakeholders and provide a competitive landscape of the market
- To track and analyze competitive developments, such as new product developments/launches, acquisitions, expansions, partnerships, and collaborations in the talc market
- To strategically profile key players and comprehensively analyze their market shares and core competencies
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