A comprehensive research study on talc market introduced by Global Market Insights, Inc. provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of market in terms of the demand landscape, driving factors and growth strategies adopted by market players.
Talc Market size is anticipated to witness a surge in demand due to growing opportunities in the paper, plastic and coating applications. The major driving factors for the growth of this industry are increasing usage of paints and coatings in construction and industrial sectors and growth in demand of plastics in automotive. It plays a substantial role in increasing the creep resistance, thermal conductivity, stiffness, rigidity, chemical resistance and impact resistance in automotive, electrical & electronic, household appliances and engineering plastics materials.
It is a soft mineral chemically composed of silica, water and magnesium. The basic chemical composition is hydrated magnesium silicate and is significant industrial and commercial mineral. Its chemical formula remains close to this basic composition but also shows variations in the structure owing to the substitution of magnesium with other elements. It has wide applications as an industrial mineral owing to its resistance to heat, acids and electricity and grease & oil adsorption. It has broad commercial usage due to its softness, fragrance retention, luster, whiteness and purity.
Based on deposit type, talc market is majorly dominated by talc carbonate and is expected to be the fastest growing segment over the forecasted period. Through various researches, it found to possess higher purity rates compared to any other deposit types.
Plastics is the fastest growing segment among all applications in the industry. High demand of talc in plastics industry comes due to its superior property be reinforcing filler. It increases the product impact resistance, conductivity and rigidity. It is chiefly applied in production of household appliances and automobile parts. Pulp & paper application segment also holds promising futuristic demand owing to broad applications in paper, offset paper and color paper sectors.
Asia Pacific is the largest talc market with its growing manufacturing and infrastructural expansion. Almost all the large chemical and mineral manufacturing companies has presence in the region due to leverage upon cheap production facilities. High demand of mineral is driven by the consumption in fast growing end use industries including plastics, ceramics and costings. China, India, South Korea, Japan and Bhutan are the major markets in the region. Among these, China is the leader in the production of white talc and is the tough competitive product supplier to other countries.
Some of the key industry players include Mondo Minerals, IMI FABI, Imerys, Minerals Technologies, Liaoning AIHAI, Jai Vardhman Khaniz and Haicheng Xinda Mining.