Talc Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The Global 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).
- 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 impact of covid-19 pandemic is expected to hamper the growth of market studied.
Key Market Trends
Increasing Demand from plastics and rubber Industry
- In plastic manufacturing, talc is mainly used as a filler. Talc particles have platy shapes which helps to increase the stiffness of products, such as polypropylene, vinyl, polyethylene, nylon, and polyester. This also increase the heat resistance ability of these products, as well as reduce shrinkage.
- Talc also enhances the properties of plastic by improving hardness, tensile strength, toughness, impact absorption, stability, as well as 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 it prevents rubber from stickiness. Properties, such as high heat resistivity and bonding qualities of talc, makes it an applicable choice for rubber application.
- Talc helps to reduce the viscosity of rubber compounds, thus easing the processing of moulded parts. It also develops extrudate qualities and enhances UV radiation resistance ability of exterior parts of automotive profiles. Talcs function as insulators in the process tyre manufacturing and make excellent processing aids.
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.
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