Rockville, MD, Aug. 19, 2024 (GLOBE NEWSWIRE) -- The Global Talc Market is evaluated at a size of US$ 1.7 billion in 2024 and is forecasted to increase to US$ 2.35 billion by 2034, says Fact.MR, a market research and competitive intelligence provider, in its updated industry research report.
Talc a mineral extracted from earth is finding increasing applications in paints and coatings, ceramics, cosmetics, medicines, construction, and pulp and paper sectors. Based on deposit type talc is segmented into talc carbonates and talc chlorite. One of the most found purest form of talc is talc carbonate.
Talc is non-flammable, non-explosive, and organophilic in nature. This soft and white material is widely used in the production of cosmetic products. Low abrasion, high thermal conductivity, chemical inertness, low electrical conductivity stability, and high oil and grease adsorption are some other characteristics of talc, which are supporting its sales growth.
In the paints and coatings industry, talc is used as a filler. It is also used as a pigment, extender in solvent-borne, water-borne, and powder-borne coatings to enhance the mechanical and optical properties and manufacturing processes. Increasing infrastructure development and new building projects across the world are driving the need for paints & coatings, subsequently increasing the consumption of talc in these products for several uses.
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Key Takeaways from Market Study:
- Global demand for talc is foreseen to rise at a CAGR of 3.3% from 2024 to 2034.
- The United States is projected to hold 73.5% of the North American market share by 2034.
- Talc sales in Japan are expected to reach US$ 112.8 million in 2024.
- Demand for talc in the paints and coatings industry is projected to reach a market value of US$ 595.7 million by 2034.
“Talc, due to its superior thermal shock resistance and fluxing characteristics, is set to gain more importance in the ceramics industry,” says a Fact.MR report.
Leading Players Driving Innovation in the Talc Market:
Imerys S.A; Mondo Minerals B.V.; Guangxi Guilin Longsheng Huamei Talc Development Co.Ltd.; Sibelco; Minerals Technologies Inc.; Nippon Talc Co. Ltd.; RT Vanderbilt Holding Company Inc.; Jai Vardhman Khaniz Pvt. Ltd.; Lianoing Aihai Talc Co. Ltd.; Xilolite S.A; Laizhou Yudong Talcum Powder Co., Ltd.; Golcha Minerals Pvt. Ltd; IMI Fabi LLC; Magnesita Refratários S.A.; LITHOS Industrial Minerals GmbH.
Asia Pacific to Offer High-Growth Opportunities for Talc Suppliers:
Asia Pacific accounts for high consumption of talc and related products. Strong presence of paper and pulp, automotive, and construction industries is driving the sales of talc. Strict regulations regarding the production of eco-friendly and fuel-efficient automobiles are further increasing the use of talc in auto car part production. Ongoing smart city initiatives in India, China, and Japan are also driving the use of talc in paints and coatings. Furthermore, advancements in manufacturing technologies are supporting overall talc market growth in the region.
Talc Industry News:
- In March 2024, Helena launched a New Quickshot™ Crop nutrition product to aid in maximizing yields.
- Amid ongoing asbestos controversy Johnson & Johnson (J&J) launched new baby care brand in 2022.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global talc market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on form (powdered talc, talc lumps or granules), deposit type (talc chlorite, talc carbonate, others), and end-use industry (agriculture, ceramics, pharmaceuticals, paints & coatings, cosmetics, pulp & paper, food, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Key Segments Covered in Talc Market Research:
By Form :
- Powdered Talc
- Talc Lumps or Granules
By Deposit Type :
- Talc Chlorite
- Talc Carbonate
- Others
By End-Use Industry :
- Agriculture
- Ceramics
- Pharmaceuticals
- Paints & Coatings
- Cosmetics
- Pulp & Paper
- Food
- Others
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